Mining sector credit tightens as ratings languish, S&P says

Nov 26, 2007 | 03:17 PM | Matthew Lerner

The runaway success of many large mining and metal companies coupled with high metal prices made borrowing for expansions and acquisitions easier, but those funds are now beginning to dry up, according to Standard & Poor's, the New York-based ratings service.

"The bad news is that almost all the volume was in the first half of the year," Robert Polenberg, a director at S&P's Leveraged Commentary & Data unit, said at a conference in New York focusing on the emerging debt crisis. "There is very little new business. It was a healthy market, but everything....

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