North American metals and mining sector provides weak covenant protections – Moody’s

July 14, 2017

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High-yield bonds issued in the metals and mining sector provide weak covenant protection, Moody’s Investors Service says in a new report issued on Friday.
The average covenant quality (CQ) score for the 56 North American metals and mining companies with outstanding high-yield bonds, drawn from Moody’s high-yield covenant database since 2011 that are still outstanding as of March 31, is 3.97 under the credit rating agency’s scoring criteria.

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