Moody’s Investors Service has downgraded Tianqi Lithium Corporation’s corporate family rating and the senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium to Ba3 from Ba2. “The downgrades reflect Moody’s expectation that Tianqi Lithium’s capital structure will remain weak and its leverage will stay elevated over the next 12 months, because of weaker operating performance,” says Gerwin Ho, a Moody’s Vice President and Senior Credit Officer.
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