(The following statement was released by the rating agency)
Nov 08 -
-- 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.
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.