[ET Net News Agency, 24 January 2013] Moody's Investors Service has placed Mongolian
Mining Corporation's (MMC)(00975) B1 corporate family and senior unsecured ratings under
review for downgrade after MMC's profit warning announcement on 21 January 2012 of an
expected consolidated loss for its FY 2012 financial results, owing to the decrease in the
selling price of coking coal, and increases in its finance costs, as well as inventory
loss provisions.
"MMC was expected to announce a breakeven net profit for 2012. Its warning of a loss,
with weaker cash flows anticipated could temper its liquidity and hinder its ability to
ride out the relatively lower prices for coking coal," said Simon Wong, a Moody's Vice
President and Senior Analyst.
"The announcement also comes on top of MMC's weaker-than-expected results for the first
half of the year, from poor sales volumes and lower operating margins because of weakened
Chinese demand for coking coal," Wong added. (KL)
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00975 MONGOL MINING
Nominal 
9.700 +0.150 (+1.571%) Others
24/01/2013 14:43
Moody's reviews Mongolian Mining's B1 ratings for downgrade
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