he following is a press release from Standard & Poor's:
MELBOURNE (Standard & Poor's) Dec. 15, 2014--Standard & Poor's Ratings
Services said today that it has affirmed and subsequently withdrawn its 'B-'
issuer credit rating on Australia-based copper producer Tiger Resources
Ltd.--which operates in the Democratic Republic of Congo--at the issuer's
request. We also withdrew our 'B-' issue rating on Tiger Resources' proposed
senior secured debt.
The issuer has elected to investigate alternative financing arrangements. At
the same time, as the company has no current intentions to issue the proposed
US$250 million senior secured notes, hence our withdrawing of the issue rating
on the proposed senior secured debt.
The withdrawals follow Tiger Resources' announcement on Dec. 8, 2014 that it
is reviewing term sheets for long-term financing arrangements, which will
include the refinancing of its October 2015 debt maturity. The company also
announced that it will re-evaluate the development timeline for the Kipoi
Phase 2 expansion once completes the refinancing. At the time of the rating
withdrawal, we believe that the credit quality of Tiger Resources remains at
'B-'.
RELATED CRITERIA
-- Methodology And Assumptions: Liquidity Descriptors For Global
Corporate Issuers, Jan. 2, 2014
-- Key Credit Factors For The Metals And Mining Upstream Industry, Dec.
20, 2013
-- Corporate Methodology, Nov. 19, 2013
-- Corporate Methodology: Ratios And Adjustments, Nov. 19, 2013
-- Methodology: Industry Risk, Nov. 19, 2013
-- Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013
-- Methodology For Standard & Poor's Metals And Mining Price Assumptions,
Nov. 19, 2013
-- Group Rating Methodology, Nov. 19, 2013
-- General Criteria: Methodology: Management And Governance Credit
Factors For Corporate Entities And Insurers, Nov. 13, 2012
-- Stand-Alone Credit Profiles: One Component Of A Rating, Oct. 1, 2010
-- 2008 Corporate Criteria: Rating Each Issue , April 15, 2008
RELATED RESEARCH
-- Standard & Poor's Updates its 2014-2016 Metals Price Assumptions, Oct.
2, 2014
AUSTRALIA
Standard & Poor's (Australia) Pty. Ltd. holds Australian financial services
licence number 337565 under the Corporations Act 2001. Standard & Poor's
credit ratings and related research are not intended for and must not be
distributed to any person in Australia other than a wholesale client (as
defined in Chapter 7 of the Corporations Act). Complete ratings information is
available to subscribers of RatingsDirect at www.globalcreditportal.com and at
www.spcapitaliq.com. All ratings affected by this rating action can be found
on Standard & Poor's public Web site at www.standardandpoors.com. Use the
Ratings search box located in the left column.
Primary Credit Analyst: Brenda E Wardlaw, Melbourne (61) 3-9631-2074;
brenda.wardlaw@standardandpoors.com
Secondary Contact: Meet N Vora, Sydney (61) 2-9255-9854;
meet.vora@standardandpoors.com
No content (including ratings, credit-related analyses and data, valuations,
model, software, or other application or output therefrom) or any part thereof
(Content) may be modified, reverse engineered, reproduced, or distributed in
any form by any means, or stored in a database or retrieval system, without
the prior written permission of Standard & Poor's Financial Services LLC or
its affiliates (collectively, S&P). The Content shall not be used for any
unlawful or unauthorized purposes. S&P and any third-party providers, as well
as their directors, officers, shareholders, employees, or agents (collectively
S&P Parties) do not guarantee the accuracy, completeness, timeliness, or
availability of the Content. S&P Parties are not responsible for any errors
or omissions (negligent or otherwise), regardless of the cause, for the
results obtained from the use of the Content, or for the security or
maintenance of any data input by the user. The Content is provided on an "as
is" basis. S&P PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES,
INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR
DEFECTS, THAT THE CONTENT'S FUNCTIONING WILL BE UNINTERRUPTED, OR THAT THE
CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event
shall S&P Parties be liable to any party for any direct, indirect, incidental,
exemplary, compensatory, punitive, special or consequential damages, costs,
expenses, legal fees, or losses (including, without limitation, lost income or
lost profits and opportunity costs or losses caused by negligence) in
connection with any use of the Content even if advised of the possibility of
such damages.
Credit-related and other analyses, including ratings, and statements in the
Content are statements of opinion as of the date they are expressed and not
statements of fact. S&P's opinions, analyses, and rating acknowledgment
decisions (described below) are not recommendations to purchase, hold, or sell
any securities or to make any investment decisions, and do not address the
suitability of any security. S&P assumes no obligation to update the Content
following publication in any form or format. The Content should not be relied
on and is not a substitute for the skill, judgment, and experience of the
user, its management, employees, advisors, and/or clients when making
investment and other business decisions. S&P does not act as a fiduciary or
an investment advisor except where registered as such. While S&P has obtained
information from sources it believes to be reliable, S&P does not perform an
audit and undertakes no duty of due diligence or independent verification of
any information it receives.
To the extent that regulatory authorities allow a rating agency to acknowledge
in one jurisdiction a rating issued in another jurisdiction for certain
regulatory purposes, S&P reserves the right to assign, withdraw, or suspend
such acknowledgement at any time and in its sole discretion. S&P Parties
disclaim any duty whatsoever arising out of the assignment, withdrawal, or
suspension of an acknowledgment as well as any liability for any damage
alleged to have been suffered on account thereof.
S&P keeps certain activities of its business units separate from each other in
order to preserve the independence and objectivity of their respective
activities. As a result, certain business units of S&P may have information
that is not available to other S&P business units. S&P has established
policies and procedures to maintain the confidentiality of certain nonpublic
information received in connection with each analytical process.
S&P may receive compensation for its ratings and certain analyses, normally
from issuers or underwriters of securities or from obligors. S&P reserves the
right to disseminate its opinions and analyses. S&P's public ratings and
analyses are made available on its Web sites, www.standardandpoors.com (free
of charge), and www.ratingsdirect.com and www.globalcreditportal.com
(subscription), and may be distributed through other means, including via S&P
publications and third-party redistributors. Additional information about our
ratings fees is available at www.standardandpoors.com/usratingsfees.
Any Passwords/user IDs issued by S&P to users are single user-dedicated and
may ONLY be used by the individual to whom they have been assigned.
No sharing of passwords/user IDs and no simultaneous access via the same
password/user ID is permitted. To reprint, translate, or use the data or
information other than as provided herein, contact Client Services,
55 Water Street, New York, NY 10041; (1) 212-438-7280 or by e-mail to:
research_request@standardandpoors.com.
Stock Market Quotes, Business News, Financial News from www.commodities-report.com
hotcopper.com.au/threads/...page-27?get_post=true#.VI6IhHsXFOg
"Prognosen sind schwierig, besonders wenn sie die Zukunft betreffen."
Greeny
Zurück
