Standard & Poor's downgrades Molycorp (MCP -4.9%) two notches further into junk territory,...

|By:, SA News Editor

Standard & Poor's downgrades Molycorp (MCP -4.9%) two notches further into junk territory, to CCC+ from B, and places its ratings on watch with "developing implications," noting the rare-earth miner's cash flow likely will be less than it expected this year due to lower prices and customer destocking.