DBRS Releases Report on Sherritt International

DBRS has today released a report on Sherritt International Corporation’s (Sherritt or the Company) that provides further detail on the recent confirmation of the Company’s Issuer Rating and Senior Unsecured Debt rating at BB (high) with Stable trends. In addition, the recovery rating for Sherritt’s Senior Unsecured Debt under a hypothetical default scenario remains at RR4.

Sherritt’s diverse operations allow it to generate steady operating earnings and cash flow in comparison with many other mining companies. Nonetheless, 2012 and 2013 are expected to be challenging years for the Company as it seeks to fund the completion of its 40% owned Ambatovy project in Madagascar in an environment of weakening commodity prices and ongoing political and economic uncertainties in Cuba (a major source of Company’s earnings) and elsewhere.

Today’s report and the March 30, 2012, press release are available at www.dbrs.com or by contacting us at info@dbrs.com.