Chinese oil producer MIE Holdings Corp. fell to record lows in the bond market after Fitch Ratings downgraded it further into junk territory citing uncertainty it will be able to renew bank facilities. The firm’s notes due in 2019 were quoted at a mid-price of 33.50 cents on the dollar and those due in 2018 were at 36.00 as of 09:57 a.m. in Hong Kong, Citic Securities International Company Ltd. prices showed. Fitch cut its rating to B- from B on Jan. 15, and kept it under negative watch, indicating the rating firm could move it into CCC if new bank loans aren’t secured within six weeks. Fitch said MIE has 300 million yuan ($45.6 million) of debt payments due this year. Brent crude closed below $30 for the first time since 2003 on Jan. 15. A 41.5 percent drop in the price of the commodity over the past […]