19.12.2012 15:57:00
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First Quantum Minerals Ltd -- Moody's places the ratings of FQM on review for downgrade
London, 19 December 2012 -- Moody's Investors Service has today placed all the ratings of First Quantum Minerals Ltd ('FQM') on review for downgrade following their announced intention to launch an unsolicited takeover bid for Inmet Mining Corporation ('Inmet', B1 stable). The initiation of this review reflects Moody's preliminary credit assessment of the announced transaction on FQM, in view of the concerns it raises in terms of more aggressive financial policy and material execution risks involved.