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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

Claudia Chong

Claudia Chong

Published Mon, May 25, 2020 · 09:50 PM
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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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Geo Energy

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