Ann: Moody's Rating Review , page-2

Junk bond melt down. Since debt holders have first call on assets over equity holders unless they really get the cash-flow going it's good night Irene by august / September. Any takers for windimurra 4 ? if the CMB circuit doesn't work the project doesn't work - Xstrata never sorted out the CMB, and never achieved magnetite recoveries. Nothing's changed.

It'd be nice to know when they knew the "iron ore" was unsaleable.