S&P lowers Taseko Mines

S&P said it lowered its ratings on Taseko Mines Ltd., including the issuer credit rating on the company, to CCC+ from B-.

The outlook is negative.

“The downgrade reflects our view of the heightened risk to Taseko's liquidity position. We believe Taseko is at risk of depleting its liquidity over the next 12 months, following the sharp deterioration in copper prices and uncertain, but potentially negative, impact of the Covid-19 outbreak,” S&P said in a news release.

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