On April 30, 2004, Standard&Poor's Ratings Services raised its corporate credit and senior unsecured debt ratings on Coeur D'Alene Mines Corp. to 'B-' from 'CCC'. The outlook is stable. The Coeur D'Alene, Idaho-based silver and gold mining company currently has about $180 million in total debt. The ratings upgrade reflects the improvement in industry conditions and in the company's liquidity and financial profile, which have provided Coeur with the capital necessary to fund development of its low-cost mining projects so that it can increase its limited reserve base and improve profitability and diversity. The ratings on Coeur reflect its high business risk as a cyclical, capital-intensive commodity-based company with a modest scope of operations, limited reserve base (averaging
