Moody's Ratings downgrades Eramet's ratings to Ba3; outlook negative
Moody's Ratings (Moody's) has today downgraded to Ba3 from Ba2 the corporate family rating (CFR) and to Ba3-PD from Ba2-PD the probability of default rating (PDR) of French mining and metallurgical company ERAMET S.A. ("Eramet" or "the group"). Concurrently, we downgraded to Ba3 from Ba2 the instrum...Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
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