Good news for FMG.
FMG holding "secured" notes (debt) was one of the impediments to their credit rating from the credit agencies (the other being non diversification). With the repayment of a substantial amount of "secured" notes, one would think FMG is one step closer to an in increased credit rating, which will make the company "investment grade", and allow new institutions to become shareholders in the company.
Last time FMG's credit rating was increased by Moody's was January 2017 with corporate family rating from Ba2 to Ba1; its senior secured rating from Ba1 to Baa3; and its senior unsecured rating from B1 to Ba2.
Last time FMG's credit rating was increased by S&P was December 2016 to BB+ (from BB).
I believe another credit rating increase will occur, its just a matter of when.
Good news for FMG. FMG holding "secured" notes (debt) was one of...
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