Moody's Upgrades Petra Diamonds' Rating After Debt Refinancing

11:39 PM EST, 12/10/2025 (MT Newswires) -- Moody's on Wednesday upgraded the long-term corporate family rating of Petra Diamonds (PDL.L) to Caa1 from Caa2, citing the completed refinancing of its debt. The rating agency said the refinancing and the restructuring plan of the diamond mining company allay concerns regarding a potential default in early 2026, stabilizing Petra's capital structure and improving its liquidity. The outlook on the rating was also revised to negative from stable, citing Moody's expectations that the company's cash flow generation and credit metrics will improve over the next 12 to 18 months despite challenging market conditions.