Standard & Poor`s Reviews Pasminco Credit Rating

Credit ratings agency Standard & Poor’s today changed its long term rating on Pasminco to BB+ (stable) from BBB- (negative outlook).

Managing Director & Chief Executive of Pasminco David Stewart expressed his disappointment at the decision. “While their assessment of our current position is not in question, the decision does not seem to take a longer-term view of the metal price cycle.”

Mr Stewart said that the change in rating had little impact on the Company’s current borrowings, although it did potentially add to the cost of future debt raising.

“Given the present low zinc price and our recent poor performance, the rating review is not surprising, however, it does not alter our immediate focus on lifting performance and reducing the overall level of our borrowings,” he said.


For further information contact:

Trevor Shard
Group Manager - Investor Relations
++ 61 (3) 9288 9186 or 0419 584 515

Peter Griffin
Group Manager - Public Affairs
++ 61 (3) 9288 0463 or 0419 314 265

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