Teck Resources Limited: DBRS Changes Teck Resources Unsecured Debentures to Senior Secured Notes

DBRS has today changed the name of the Unsecured Debentures of Teck Resources Limited (formerly, Teck Cominco Limited; Teck or the Company) to Senior Secured Notes, following the announcement that the Company’s Unsecured Debentures have become secured equally and rateably with the amended bridge and term loans associated with Teck’s October 2008 acquisition of interests in Fording Canadian Coal Trust and with other credit facilities of Teck. The Senior Secured Notes have the same BBB (low) rating with a Negative trend and the RR3 recovery rating as the previous Unsecured Debentures.

Notes:
The applicable methodology is Rating Mining, which can be found on our website under Methodologies.

This is a Corporate rating.