DBRS Finalizes BBB (low) Rating with a Positive Trend to Teck Resources New Debt Issues

DBRS has today finalized its rating of BBB (low) with a Positive trend on Teck Resources Limited’s (Teck or the Company) $500 million of 4.5% notes due 2021 and $200 million 6.0% notes due 2040 (collectively, the Notes), following the pricing of the Notes and the filing on September 9, 2010, of a prospectus supplement to the Company’s prospectus dated June 7, 2010, related to the Notes. DBRS provisionally rated the Notes at BBB (low) with a Positive trend on September 8, 2010.

The offering of the Notes is expected to close on or about September 22, 2010, subject to customary closing conditions. The net proceeds of the issues are expected to be used by the Company to purchase existing senior unsecured long-term debt by way of the public tender that was launched on September 8, 2010, or for other general corporate purposes. These debt issuances and the purchase transaction are not expected to have an impact on Teck’s ratings if completed as expected.

Notes:
All figures are in U.S. dollars unless otherwise noted.

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