Teck (NYSE:TCK) Notes Rated "BBB-" by Fitch Ratings

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-".