DBRS Finalizes BBB (low) Rating with Positive Trend to New Debt Issue of Teck Resources

DBRS has today finalized its rating of BBB (low) with a Positive trend on Teck Resources Limited’s (Teck’s or the Company’s) $2.0 billion senior unsecured notes, consisting of $300 million aggregate principal amount of 3.15% notes due 2017, $700 million aggregate principal amount of 4.75% notes due 2022 and $1.0 billion aggregate principal amount of 6.25% notes due 2041, following the pricing of the notes and the filing on July 1, 2011, of a prospectus supplement to the Company’s prospectus dated June 7, 2010, related to the notes. DBRS provisionally rated the senior unsecured notes at BBB (low) with a Positive trend on June 29, 2011.

The offering of the senior unsecured notes is expected to close on or about July 5, 2011, subject to customary closing conditions. The net proceeds of the issue are expected to be used by the Company for general corporate purposes. These debt issuances and purchase transactions 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 Companies in the Mining Industry, which can be found on our website under Methodologies.