Moody’s lifts Taseko Mines, notes

Moody's Investors Service said it upgraded Taseko Mines Ltd.’s corporate family rating to B3 from Caa1, probability of default rating to B3-PD from Caa1-PD and senior unsecured notes to Caa1 from Caa2.

The speculative grade liquidity rating was affirmed at SGL-3.

The outlook was changed to stable from negative.

"Taseko's ratings have been upgraded because adjusted leverage will drop to about 3x and the company will generate modest positive free cash flow over the next 12 to 18 months," Moody's vice president, senior analyst Jamie Koutsoukis said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.