Met coal price recovery key to Teck maintaining its Baa3 rating – Moody’s

Canada’s largest diversified miner Teck Resources’s Baa3 credit rating and stable outlook would come under pressure if metallurgical (met) coal prices did not recover, an ‘Issuer in-depth’ report by ratings agency Moody’s Investors Service said this week. Vancouver-based Teck’s adjusted leverage was expected to remain above 3x through 2016, even if met coal prices rose to $120/t, as expected.