Bulletin: Coeur Mining Inc.'s Announced Acquisition Of SilverCrest Metals Inc. Could Improve Credit Quality

This report does not constitute a rating action. DALLAS (S&P Global Ratings) Oct. 9, 2024-- S&P Global Ratings today said that Coeur Mining Inc. ?s (B-/Positive/--) proposed acquisition of SilverCrest Metals Inc. could benefit its credit quality. On Oct. 4, 2024, Coeur announced that it has entered into a definitive agreement to acquire all the shares of SilverCrest, a Canadian precious metals producer headquartered in Vancouver, in a deal with implied valuation of about $1.7 billion. The combined entity will become a major producer of silver in North America, with annual silver and gold production estimated as high as 21 million ounces and 432,000 ounces, respectively. The acquisition reinforces our positive outlook on Coeur, and our 'B-' rating on Coeur

...October 9, 2024 This report does not constitute a rating action. DALLAS (S&P Global Ratings) Oct. 9, 2024-- S&P Global Ratings today said that Coeur Mining Inc.'s (B-/Positive/--) proposed acquisition of SilverCrest Metals Inc. could benefit its credit quality. On Oct. 4, 2024, Coeur announced that it has entered into a definitive agreement to acquire all the shares of SilverCrest, a Canadian precious metals producer headquartered in Vancouver, in a deal with implied valuation of about $1.7 billion. The combined entity will become a major producer of silver in North America, with annual silver and gold production estimated as high as 21 million ounces and 432,000 ounces, respectively. The acquisition reinforces our positive outlook on Coeur, and our 'B-' rating on Coeur remains unchanged. The addition of the Las Chispas mine in Mexico adds scale, asset diversity, and higher margins given the low-cost profile of Las Chispas. The combination will also improve its geographic diversity with...

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