Fitch rates Mongolian Mining, notes B

Fitch Ratings said it assigned Mongolian Mining Corp. a long-term foreign-currency issuer default rating of B.

The outlook is stable.

Fitch has also assigned a B expected rating with expected recovery rating of RR4 to the company’s proposed dollar-denominated senior notes.

“MMC's rating is constrained by its small scale, single-product focus and limited cost competitiveness outside of northern China,” the agency said in a news release.

“However, MMC has flexibility in capex, which should give it sufficient buffer to continue generating free cash flows during a coal price downturn.”

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