DBRS: Teck Resources unchanged

DBRS said that Teck Resources Ltd.'s issuer rating of BBB (low) would not be affected by United Steelworkers Local 9346's strike action at its 95%-owned Elkview metallurgical coal operations in southeast British Columbia.

The trend remains positive.

DBRS said it views the strike as an unfortunate event in a period of worldwide short supplies of metallurgical coal and robust coal prices.

Nonetheless, the company has made great strides in restoring its liquidity and balance sheet strength, the agency said.

In an environment of strong coal, copper and zinc prices, DBRS said it does not expect the Elkview strike will result in a deterioration of the company's credit metrics.

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