Recovery Report: Coeur d'Alene Mines Corp.'s Recovery Rating Profile Jan 13

  • ID: 2386445
  • January 2013
  • Standard & Poors
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We are updating our recovery analysis on U.S.-based gold and silver producer Coeur d'Alene Mines Corp. (Coeur), to reflect our assignment of issue and recovery ratings to the company's proposed $200 million senior unsecured notes. Coeur may use the gross proceeds from the proposed notes offering to redeem part or all of its existing 3.25% subordinated notes, pay transaction-related fees and expenses, and for general corporate purposes. Standard & Poor's Ratings Services' simulated default scenario envisions a default in 2016, stemming from increased gold and silver mining costs and mining disruptions, compounded by a severe decline in gold and silver prices. (For Standard & Poor's recovery rating methodology, see "Criteria Guidelines For Recovery Ratings," published Aug. 10, 2009, on RatingsDirect.)...

Companies mentioned in this report are:
- Coeur Mining Inc.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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- Coeur Mining Inc.

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