New senior unsecured notes issued by Teck Resources Limited (NYSE:TCK) have been given a "BBB-" rating by Fitch Ratings.
One of the group of senior unsecured notes worth $300 million will be due in 2017, and another group worth $450 million will be due in 2040.
Capital garnered from the offerings will be sues to acquire up to $800 million of existing notes which are due in 2014 and 2016.
Fitch said if other leveraged acquisitions were to be made, a negative rating for Tech could follow, and if they further pay down their debt, positive ratings could be applied to them as well.
Teck was rated by Fitch like this:
- Issuer Default Rating "BBB-";
- Senior unsecured notes "BBB-".
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