The corporate credit rating on Coeur d'Alene Mines Corp. incorporates our view of company's "weak" business risk profile, characterized by its exposure to volatile metals prices, high cost position, limited mine diversity, relatively small size, and the risks of being a primary silver producer, given that the majority of silver supply comes as a byproduct of other mining activities. The "significant" financial risk profile reflects our view of the company's low absolute debt levels, strong cash flow generation and adequate liquidity. In addition, recent operating performance and cash flow have benefited from unprecedented high metals prices, increased volumes, and lower capital expenditures as new mines have been completed. In 2012, we anticipate Coeur will generate EBITDA in the range of
