The cost of doing business is taking a toll on iron ore giant CVRD. The new owner of INCO assets including Voisey's Bay just took a hit from the bond rating agencies.
The aggressive growth - suggested by the new owners - may have to be balanced by the heavy debt incurred to by INCO.
Read the Reuters Story
Several credit rating agencies downgraded CVRD but kept it at investment grade. On Wednesday Moody's Investors Service cut CVRD's rating citing "significant additional debt."
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