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Gold Drop Uncovers Miners’ Debt Woes

  • BUSINESS
  • Updated June 28, 2013, 7:52 p.m. ET

“Gold miners are scrambling to cut costs, sell assets and shore up finances, as credit-rating services talk of debt downgrades that threaten to add to the already increasing costs of future borrowing.”

“”If prices below $1,300 are sustained for more than two quarters, without significant changes to spending, I would expect we could see ratings downgrades,” said Donald Marleau, an analyst at Standard & Poor’s Ratings Services.”

 

http://on.wsj.com/1amSB4o via @WSJ

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