S&P alters Taseko view to positive

S&P said it revised the outlook for Taseko Mines Ltd. positive from negative and affirmed its ratings on the company, including its CCC+ issuer rating.

“The outlook revision reflects our view that Taseko’s near-term liquidity risks have been alleviated, and the prospects for new funding are favorable. We believe Taseko is unlikely to face a liquidity crisis for at least the next 12 months, following the improvement in its cash position and copper market conditions,” S&P said in a press release.

The outlook reflects the potential S&P could raise its Taseko’s ratings if the company obtains financing for the Florence Copper project and refinancing its secured notes due 2022 without materially weakening prospective liquidity, S&P said.

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