New York, June 01, 2015 -- Moody's Investor Service today downgraded the corporate family rating (CFR) of Molycorp, Inc. to Ca from Caa2, the probability of default rating to Ca-PD from Caa2-PD and the rating on the senior secured debt to Caa3 from B3. Moody's also affirmed the Speculative Grade Liquidity rating of SGL-4. The outlook is negative. The rating action follows the company's announcement that it has elected to take advantage of the 30 day grace period with respect to the $32.5 million semi-annual interest payment due June 1, 2015 on its senior secured notes. The company stated that it intends to use the grace period to continue to evaluate different options to restructure its capital structure.

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