Credit Ratings From Moodys and Standard & Poors
Perth, Nov 3, 2014 AEST (ABN Newswire) - Tiger Resources Limited (
ASX:TGS) ("Tiger") is pleased to announce it has been assigned a provisional 'B2' credit rating from Moody's Investor Services and a 'B-' credit rating from Standard and Poor's, with both agencies citing a stable outlook on their respective ratings.
The first time assignment of credit ratings by leading international credit ratings agencies is a major step forward for Tiger as it progresses its strategy to restructure its existing facilities. Tiger is advancing a number of alternative competitive financing sources with the aim of securing a strong balance sheet platform from which it can realise the full value of the Kipoi project. The respective ratings levels are a reflection of both Kipoi's low cost position in the copper industry and the project's domicile in the Democratic Republic of Congo, to which Moody's and Standard & Poor's have assigned 'B3/stable' and 'B-/stable' ratings respectively.
The ability to obtain a credit rating is one of the key tangible benefits that the recent consolidation of the Kipoi Joint Venture provides to Tiger's shareholders. A rating may not have been possible under the previous structure. This highlights the broader range of financing solutions which Tiger is able to pursue under the revised ownership structure.
About Tiger Resources Limited
Tiger Resources Limited (ASX:TGS) has established itself as a producing copper/cobalt company with excellent growth potential after making the transition from an explorer. We have a highly-rated portfolio of properties, all strategically located on the world renowned Katanga Copperbelt in the Democratic Republic of the Congo (DRC), central Africa.
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