DISTRESSED DAILY: Tacora Resources Faces Potential Cash Crunch

Canadian miner Tacora Resources Inc. faces a possible liquidity crunch and limited refinancing prospects amid production disruption and cost inflation in its home country, according to S&P Global Ratings.

The smaller-scale producer of iron ore, a key input in blast furnace steel production, faces high risks of missing interest payments on its 2026 senior secured notes or engaging in a restructuring transaction that’s tantamount to default, S&P analysts Jarrett Bilous and Madhav Hari wrote in a note Thursday.

Operational challenges have exacerbated near-term liquidity concerns for the company, as it faced disruptions in ramping up production at its Scully ...