S&P rates Teck notes BBB

Standard & Poor's said it assigned a BBB rating to Teck Resources Ltd.'s $2 billion of senior unsecured notes.

Notwithstanding modestly weaker credit measures pro forma for the transaction, Teck's financial risk profile remains consistent with the current ratings, S&P said.

This debt issuance increases the company's last 12 months debt-to-EBITDA ratio to about 1.7x from 1.3x, the agency said.

But S&P said it believe these ratios could improve through 2011 amid continued strength in metals prices and sharply higher coal prices.

© 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.