Moody's boosts Teck bond

Moody's Investors Service said it upgraded Teck Resources Ltd.'s long-term debt ratings to Baa2 from Baa3.

The outlook is stable.

Affected ratings include the company's senior unsecured regular bond/debenture, upgraded to Baa2 from Baa3. The agency said it also changed the outlook to stable from positive.

According to Moody's, the upgrade reflects the company's substantial debt reduction, lower debt maturity towers, and the expectation that Teck's solid investment grade credit metrics will be sustained over the cycle.

© 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.