Looks like MBN is heading the way of KZL. Huge debt, unprofitable and no way out.
In case anyone wondered, Caa1 is officially junk rating. I am surprised the sp is not already sub 30 cents.
The only thing good (from a creditor's perspective) is that it is a one mine company and easily managed to sell in a volutary adminstration.
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s&p downgrade, page-4
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