DBRS changes Teck Resources trend to positive

DBRS said it confirmed the issuer rating of Teck Resources Ltd. at BB (high).

DBRS also confirmed the rating of the guaranteed senior unsecured notes issued June 2016 at BB (high) and the rating of the senior unsecured notes at BB to reflect structural subordination.

At the same time, DBRS confirmed the recovery ratings of the guaranteed senior unsecured notes at RR1 and the senior unsecured notes at RR4.

Additionally, the agency changed the trends on all the ratings to positive from stable due to debt reduction and an expectation of the company’s approval of its Quebrada Blanca Phase Two (QB II) copper expansion, DBRS said in a news release.

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