Moody's downgrades Molycorp, notes weak rare earths pricing environment

|About: Molycorp, Inc. (MCPIQ)|By:, SA News Editor

Molycorp (MCP) -4.1% AH as Moody's downgrades MCP's corporate family rating to Caa2 from Caa1 and affirms the B3 rating on the company's senior secured notes.

The downgrade reflects continued weakness in the rare earths pricing environment, ongoing negative free cash flows, weak liquidity and high leverage, the ratings firm says.