Ann: Moodys Down Grade Fortescue Credit Rating, page-10

At the same time,

“reflecting the improvements in the company’s cost profile,
Moody’s expects Fortescue’s operations will remain comfortably above breakeven levels under the rating agencies base case price assumptions.

” Moody’s also noted the company’s “lower breakeven levels combined with the company’s sizable cash balances should allow Fortescue to continue to reduce debt levels and maintain a solid liquidity profile.”

Chief Financial Officer Stephen Pearce noted that
“it is pleasing that Moody’s has recognised Fortescue’s strong performance, stable production profile and long life, high quality reserves. Our focus on successfully reducing operating and capital costs continues to offset the impact of lower iron ore prices.”

The rating update has no impact on Fortescue’s debt capital structure.

FMG will Boom as debt is reduced.. and its Byby to bad mood Moodys .