Form 8-K CLIFFS NATURAL RESOURCES For: Jul 23
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Moody's Places Cliffs Natural (CLF) Rating on Review for Downgrade
July 25, 2014 2:58 PM EDTMoody's Investors Service placed Cliffs Natural Resources (NYSE: CLF) Baa3 senior unsecured ratings under review for downgrade.
..Issuer: Cliffs Natural Resources Inc.
On Review for Possible Downgrade:
....Multiple Seniority Shelf Feb 11, 2016, Placed on Review for Possible Downgrade, currently (P)Baa3
....Senior Unsecured Regular Bond/Debentures, Placed on Review for Possible Downgrade, currently Baa3
Outlook Actions:
....Outlook, Changed To Rating Under Review From Negative
RATINGS RATIONALE
The review results from the expected further deterioration in earnings and debt protection metrics on the drop in iron ore prices, which we... More
