10:56 AM EDT, 04/08/2024 (MT Newswires) -- S&P Global Ratings on Monday assigned its B- issue-level rating and 3 recovery rating to Taseko Mines' ( TGB ) proposed US$500 million senior secured notes due 2030.

The 3 recovery rating reflects the rating agency's expectation for meaningful recovery in the event of default.

The B- long-term issuer credit rating and stable rating outlook on Taseko remain unchanged. The rating mainly reflects the view of the company's single-mine operations, limited product diversity, and the high sensitivity of the company's credit measures to base metals price volatility, the agency said.

The company's shares rose 2.8% on last look on Monday in Canada.

Price: 3.29, Change: +0.08, Percent Change: +2.49