S&P lowers Stillwater Mining credit rating

Dec 29, 2008 | 06:43 AM | Mick Bowen

Standard & Poor's Ratings Services (S&P), New York, has lowered its corporate credit rating on Stillwater Mining Co., Billings, Mont., to B- from B+ and attached a negative outlook.

"The downgrade and negative outlook reflect our assessment that the weak global economic conditions and substantially reduced demand in the U.S. automotive industry will materially hurt the company's near-term operating results. The U.S. automotive industry is a key end-market for the company," S&P analyst Maurice Austin said in a....

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