Teck Resources Bonds Investment Grade?
Although Teck Resources (TSE:TCK-B) hasn't officially been designated as having an investment-grade bond rating, the market has already spoken to the issue, and in the view of the market Tech has already reached that stage.
Moody's did increase the credit rating of Tech to Ba1 in the early part of March, one level below investment grade.
When compared to the corporate bond market in the U.S. at the investment-grade level, Teck does well, with their five-year, 9.75 notes falling to 4.51 percent from 11.2 percent since May 5, while their American counterparts dropped to 4.58 percent.
Moody's said the reason they upgraded Tech Resources credit was the significant reduction in debt and sellling of assets.
Teck Resources Bonds Investment Grade
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