Coeur Mining Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'BB-'

NEW YORK (S&P Global Ratings) May 18, 2017--S&P Global Ratings today assigned its 'BB-' issue-level rating to Chicago-based gold and silver miner Coeur Mining Inc.'s proposed $250 million senior unsecured notes due 2024, issued as part of a refinancing transaction. The recovery rating on the notes is '3', which indicates our expectation for meaningful (50%-70%; rounded estimate 65%, capped) recovery in the event of a payment default. We view the proposed transaction as credit neutral. The company will use the proceeds to repay the $178 million outstanding balance of its senior unsecured notes due 2021 and fees and expenses related to the transaction. The rest of the proceeds will be used for general corporate purposes. Our 'BB-' corporate credit rating

...NEW YORK (S&P Global Ratings) May 18, 2017--S&P Global Ratings today assigned its '##-' issue-level rating to Chicago-based gold and silver miner Coeur Mining Inc.'s proposed $250 million senior unsecured notes due 2024, issued as part of a refinancing transaction. The recovery rating on the notes is '3', which indicates our expectation for meaningful (50%-70%; rounded estimate 65%, capped) recovery in the event of a payment default. We view the proposed transaction as credit neutral. The company will use the proceeds to repay the $178 million outstanding balance of its senior unsecured notes due 2021 and fees and expenses related to the transaction. The rest of the proceeds will be used for general corporate purposes. Our '##-' corporate credit rating is unchanged. The outlook is stable. RECOVERY ANALYSIS Key Analytical Factors + Our recovery analysis assumes a capital structure that includes the proposed $250 million senior unsecured notes due 2024 and an unrated $12 million asset-based...

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