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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Claudia Chong
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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 a recovery rating of RR4.
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