November 8, 2012 / 2:27 PM / 5 years ago

TEXT-S&P assigns 'B+' rating to Atlas Iron Ltd.; outlook stable

(The following statement was released by the rating agency)

Nov 08 -

Overview

-- Atlas Iron has high mineral concentration, substantial capital expenditure, low scale and reserve life, adequate liquidity, and a good cost position.

-- We are assigning our 'B+' long-term corporate credit rating to the Australia-based iron ore producer.

-- The stable outlook reflects our expectation that Atlas Iron will steadily increase its sales volumes over the next 24 months while maintaining its liquidity position.

Rating Action

On Nov. 8, 2012, Standard & Poor's Ratings Services assigned its 'B+' long-term corporate credit rating to Australia-based iron ore producer Atlas Iron Ltd. The outlook is stable.

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