Moody’s rates Hecla Mining notes B3

Moody's Investors Service said it assigned a B3 rating to Hecla Mining Co.’s proposed $500 million senior unsecured notes due 2025.

Hecla's B2 corporate family rating, B2-PD probability of default rating and SGL-2 speculative grade liquidity rating are unchanged.

The outlook is stable.

Proceeds will be used to tender for the 6 7/8% notes due 2021. The B3 rating on these notes will be withdrawn upon repayment.

Moody’s said the B2 corporate family rating reflects the company's portfolio of high-quality and low-cost assets (particularly its silver assets) that are located in politically stable regions, the company's growing production profile, and diversification of sales between silver and gold.

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