Research Update: Barrick Gold Corp. 'A-' Ratings Placed On CreditWatch Negative On Proposed Equinox Minerals Ltd. Acquisition Apr 11
Standard & Poors, April 2011
Abstract
We are placing our ratings, including our 'A-' long-term corporate credit rating, on gold producer Barrick Gold Corp. on CreditWatch with negative implications. The CreditWatch placement follows Barrick's proposed C$7.3 billion all-cash acquisition of Equinox Minerals Ltd. We will resolve the CreditWatch when Barrick's prospects for executing this acquisition are clear, and we can assess the company's ability to maintain credit measures consistent with an 'A' category financial risk profile. On April 26, 2011, Standard & Poor's Ratings Services placed its ratings, including its 'A-' long-term corporate credit rating, on Barrick Gold Corp. on CreditWatch with negative implications. The CreditWatch placement follows the company's proposed C$7.3 billion all-cash friendly offer to acquire Equinox Minerals Ltd. Assuming the transaction is funded...
Companies mentioned in this report are:
- Barrick Gold Corp.
- Placer Dome Inc.
- Barrick Gold Finance Corp.
- Barrick International Bank Corp.
- ABX Financing Co.
- Barrick Gold Financeco LLC
- Barrick North America Finance LLC
- Barrick (PD) Australia Finance Pty Ltd
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Barrick Gold Corp.
- Placer Dome Inc.
- Barrick Gold Finance Corp.
- Barrick International Bank Corp.
- ABX Financing Co.
- Barrick Gold Financeco LLC
- Barrick North America Finance LLC
- Barrick (PD) Australia Finance Pty Ltd
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