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Blow as cement maker’s credit rating downgraded

Athi River Mining facility. [Photo/Standard]

The ability of cement maker Athi River Mining to pay its Sh14 billion debt has been cast in doubt after a South African rating agency downgraded its credit status to junk.

Global Credit Ratings (GCR) downgraded ARM on Friday last week to default status of DD over both its long-term and short-term loans.

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