DBRS Discontinues Noranda Trust Senior Secured Note Rating

DBRS has today discontinued the rating of the Senior Secured Notes (the Notes) of Noranda Operating Trust (Noranda Trust or the Trust) as all of the Trust’s $153.5 million of outstanding Notes were repaid on their December 20, 2010, maturity date. The rating was placed Under Review with Developing Implications on December 3, 2010, but since the Notes have been repaid, the Under Review status cannot be resolved.

DBRS has maintained the BBB Issuer Rating of the Trust Under Review with Developing Implications, where it was placed on December 3, 2010 (see DBRS press release published December 3, 2010).

Notes:
All figures are in Canadian dollars unless otherwise noted.

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