...- Coeur Mining Inc. (Coeur) is on track to almost double its EBITDA in 2024 compared to 2023 due to higher-than-expected gold and silver prices and an expected increase in production driven mostly by the completion of ramp up at the company's Rochester mine. - We expect free cash flow deficits to moderate in 2024 before turning positive in 2025 supported by higher earnings and lower capital expenditures, which should create deleveraging opportunities with excess cash flows based on the company's public comments. - As a result, we revised our outlook to positive from negative and affirmed our 'B-' issuer credit rating on Coeur. - At the same time, we raised our issue-level rating on the senior unsecured notes to 'B' from 'B-' and revised our recovery rating to '2' from '4', reflecting improved recovery prospects due to debt reduction through a series of debt-for-equity exchanges. Our 'B+' issue-level rating and '1' recovery rating on the senior secured debt are unchanged. - The positive...
