On Jan. 27, 2009, Standard&Poor's Ratings Services lowered its ratings on Coeur D'Alene, Idaho-based Coeur D'Alene Mines Corp. The corporate credit rating was lowered to 'CCC' from 'B-'. In addition, we lowered the issue-level rating on the company's $60 million senior secured convertible notes to 'CCC', the same as the corporate credit rating on the company, from 'B' and revised the recovery rating to '3', indicating the expectation of meaningful (50%-70%) recovery in the event of a default, from '2'. We also lowered the issue-level rating on the company's $180 million and $230 million senior unsecured convertible notes to 'CC' (two notches lower than the corporate credit rating) from 'B-', and revised the recovery rating on this debt
