Moody's assigns Ba1 rating to FCX's new notes
Rating Action: Moody's assigns Ba1 rating to FCX's new notes. Global Credit Research- 19 Feb 2020. New York, February 19, 2020-- Moody's Investors Service, assigned a Ba1 rating to Freeport-McMoRan Inc's new guaranteed senior unsecured notes due in 2028 and 2030. The notes will be issued under the company's well-known seasoned issuer shelf registration, rated Ba1 for senior unsecured debt securities.Freeport-McMoRan is a holding company. Through its subsidiaries, the company is a mining company. The company operates assets with proven and probable reserves of copper, gold and molybdenum, and the company is a publicly traded copper producer. The company's portfolio of assets includes the Grasberg minerals district in Indonesia, copper and gold deposits; and mining operations in North America and South America, including the Morenci minerals district in Arizona and the Cerro Verde operation in Peru. The company has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines.
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