Fitch gives Mineral Resources notes BB

Fitch Ratings said it gave Mineral Resources Ltd.’s planned senior unsecured notes BB.

“The proposed notes are rated at the same level as the IDR, as they will be unconditionally, jointly and severally guaranteed by MIN and its subsidiaries, which represent more than 95% of group consolidated assets and net income,” Fitch said in a press release. The agency also affirmed the issuer’s BB rating.

MIN plans to use the proceeds for capital expenditures.

The outlook is stable.

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