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Geo Energy gets a downgrade from Fitch after bond tender offer

Company's operating profile has weakened significantly, says Fitch, with minimal safety margin for operations

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Fitch expects Geo Energy's cash generation to remain weak in the near term, given the low coal prices and its weak cost position.

Singapore

FITCH Ratings has downgraded coal producer Geo Energy Resources Limited's long-term issuer default rating (IDR) to C from CC.

It has also downgraded the rating on subsidiary Geo Coal International Pte Ltd's outstanding senior unsecured guaranteed notes to C, from CC, with...

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