Moody’s assigns HudBay notes B3

Moody's Investors Service said it assigned a B3 rating to HudBay Minerals, Inc.'s proposed offering of $150 million of senior unsecured notes due 2020, which is an add-on to its existing $750 million senior unsecured notes due 2020.

HudBay's B3 corporate family rating, B3-PD probability of default rating, B3 senior unsecured rating and SGL-3 speculative grade liquidity rating are unchanged.

The outlook remains positive.

Proceeds from the notes issue will be used to retire about $117 million of debt that HudBay assumed as part of its recent acquisition of Augusta Resource Corp. and to modestly strengthen the company's cash position.

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