Moody's cuts Tianqi Lithium

Moody’s Investors Service said it downgraded Tianqi Lithium Corp.’s corporate family rating and the senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd., and guaranteed by Tianqi Lithium, to Ba3 from Ba2.

“The downgrades reflect Moody's expectation that Tianqi Lithium’s capital structure will remain weak and its leverage will stay elevated over the next 12 months, because of weaker operating performance,” said Gerwin Ho, a Moody's vice president and senior credit officer, in a press release.

The outlook remains negative.

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