Northland's USD 350 Million Bond Rated (B-) From S&P and (Caa1) from Moody's
28.05.2012 | Marketwired
![Northland's USD 350 Million Bond Rated (B-) From S&P and (Caa1) from Moody's](https://www.goldseiten.de/media/goldseiten-news.jpg)
The rating agency Standard & Poor's ("S&P") has assigned a B- rating to the USD 350 million of senior secured notes maturing in 2017. The rating outlook is stable and the recovery rating is 4.
The rating agency Moody's has assigned a Corporate Family Rating of Caa1 to Northland Resources AB and a Caa1 (Loss Given Default 3, 46%) rating to the USD 350 million of senior secured notes maturing in 2017. The rating outlook is stable.
"I am pleased to announce that we have completed the public ratings process with both S&P and Moody's. This is another step on the path taking Northland Resources from an early-stage mining company to an operating company with a global investor base and demonstrates the company's ability to raise financing from the international capital markets," said Karl-Axel Waplan, President and CEO of Northland Resources S.A.
For more information of the 2012 Bond Offering, please see the press release dated March 7, 2012.
Karl-Axel WaplaN
President & CEO
Northland Resources S.A.
Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company's Kaunisvaara Project will initially exploit two magnetite iron ore deposits in Sweden. The process will yield a high-grade, high-quality magnetite iron concentrate. The construction of the Kaunisvaara project in Sweden is well underway and mining is planned to start in the fourth quarter of 2012. Northland has entered into off-take contracts for the entire production from Kaunisvaara. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") Project in Kolari, northern Finland and for its Pellivuoma deposit 15 km from the Kaunisvaara process plant.
Contact Information
Northland Resources S.A.
Karl-Axel Waplan
President and CEO
+46 705 104 239
Northland Resources S.A.
Anders Antonsson
Vice President Investor Relations
+46 709 994 970
Northland Resources S.A.
Marguerite Manshreck-Head
Investors Relations, Canada
+1 647 224 7882
www.northland.eu