Moody’s Investors Service (“Moody’s”) assigned a Baa3 rating to the new $600 million 10 year senior unsecured bonds issued by Methanex Corporation. “Methanex started construction this quarter of G3, a new plant in Louisiana that will add up to 1.8 million tonnes of low-cost methanol capacity,” according to Joseph Princiotta, SVP at Moody’s. “However, the project will take 3 years to complete and cost about $1.3 billion-$1.4 billion, driving up debt and leverage during construction and posing a risk to the company’s investment-grade rating if methanol prices fall below mid-cycle for an extended period of time,” Princiotta added.
blaineonline.finance.blog 