Boart Longyear Limited
(ASX:BLY) has had its corporate debt rating downgraded.
Moody’s Investors Services has advised the company’s ratings have been revised and will remain under review.
The company says the review comes as a result of the financing structures the company is evaluating to provide greater liquidity and flexibility, as previously announced in August.
In its half year accounts statement released last month, the company said it’s committed to running the business more efficiently, reducing costs and prudently managing the risks in the business.
Boart Longyear booked a net loss of $355 million in the first half of fiscal 2013.
