The spin-off of the metallurgical coal assets weakens the credit profile of Teck Metals relative to the predecessor company because of the loss of product diversity (on an owned asset basis), and elevated concentration to QB2. ("Teck Metals") and Elk Valley Resources Ltd. On 21 February, Teck Resources Limited ("Teck") announced a proposed reorganization of its business to separate Teck into two independent, publicly-listed companies: Teck Metals Corp. Toronto, Febru- Moody's Investors Service ("Moody's") affirmed Teck Resources Limited's ("Teck") senior unsecured rating at Baa3 and at the same time, Moody's changed the outlook to stable from positive.
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