Moody’s lifts Teck Resources, notes

Moody's Investors Service said it upgraded Teck Resources Ltd.’s corporate family rating to Ba3 from B1, probability of default rating to Ba3-PD from B1-PD, guaranteed senior unsecured note ratings to Ba2 from Ba3 and senior unsecured note (not guaranteed) rating to B1 from B3.

The speculative grade liquidity rating was affirmed at SGL-2.

The outlook was changed to positive from stable.

"Teck's ratings have been upgraded because our outlook for their products has improved and the company is expected to use its cash flow to reduce debt," Moody's vice president, senior analyst Jamie Koutsoukis said in a news release.

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