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  • 9 Jan 2014
  • National Post - (Latest Edition)
  • By Peter Koven Financial Post

credit downgrades

TORONTO • The reeling gold mining industry was dealt another blow on Wednesday as Moody’s Investors Service slashed its gold and silver price targets and hinted at potential credit downgrades to companies.

The “increasing” risk of lower prices suggests that the key credit metrics for some gold producers “are stretched for current ratings” in the absence of cost reductions or other actions, the credit rating agency said in a statement.