S&P Global Ratings has reassessed Conuma Resource Ltd.?s credit profile following its recent debt restructuring transaction, which improved the company?s near-term liquidity. The transaction included the issuance of about US$50 million of new priority notes from a group of existing lenders and the exchange of about US$140 million of its senior secured notes for new priority notes due 2028. Additionally, the company raised US$25 million from its financial sponsors through the issuance of preferred shares and received a commitment for an additional US$25 million if liquidity falls below C$40 million. The company should have sufficient liquidity over the next 12 months, but we continue to view its capital structure as unsustainable in the longer term. This reflects our expectation for
