Moody's boosts Teck Resources

Moody's Investors Service said it upgraded Teck Resources Ltd.'s corporate family rating and senior secured notes rating to Ba2 from Ba3 and changed Teck's outlook to positive from negative.

The senior secured notes rank pari passu with Teck's revolver and term loan, which are not rated, the agency said.

Moody's said it also raised Teck's speculative-grade liquidity rating to SGL-2 from SGL-3, representing good liquidity over the next 12 months.

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