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Moody’s downgrades mining sector outlook to negative
Credit rating firm Moody’s Investors Service said on Thursday it had changed its outlook for the global metals and mining Industry from stable to negative as a global economic slowdown continues to soften demand. The downturn is affecting prices, which consequently reflects a decreasing profitability for the largest Moody’s-rated companies in the industry during the upcoming 12 months, the firm said. “[EBITDA and prices] will remain higher than in pre-pandemic years but below the record-high levels seen in early 2022,” says Moody’s senior vice president Barbara Mattos. Earnings before interest, taxes, ... (full story)