In brief: Ratings agency warning on debt and other business news

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Moody’s warns debt could prompt downgrade, tax review committee considers capital gains tax and an EU warning to curb illegal fishing in PNG. Your weekly digest of the latest business news.

Moody’s cuts Newcrest Mining rating

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The ratings agency Moody’s has cut Newcrest Mining Ltd’s credit rating, declaring its outlook as negative, after the gold miner announced a AUD$6 billion (K12.6 billion) in asset writedowns in June.

PNGSDP prepares for life without Ok Tedi

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Papua New Guinea Sustainable Development Program Ltd appears to be resigned to losing its main asset, the Ok Tedi mine, to the PNG Government. What are the implications if the takeover goes ahead?

Papua New Guinea’s economic outlook stable: Moody’s

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Papua New Guinea’s economic growth and low debt has pleased international credit rating agency Moody’s, although local businesses and financial institutions will be largely unaffected by its latest rating.