Barrick Gold Corp. Removed From Watch Negative, Affirmed At 'A-' On Pending Equinox Acquisition; Outlook Negative May 11
Standard & Poors, May 2011
Abstract
We are removing our ratings on Toronto-based Barrick Gold Corp. from CreditWatch, where they had been placed with negative implications April 26, 2011. At the same time, we are affirming our 'A-' long-term corporate credit rating on the company on the expectation that earnings prospects support incremental debt for the acquisition of Equinox Minerals Ltd. The negative outlook reflects what we view as Barrick's increased financial risk stemming from a higher debt load and heavy capital expenditures. TORONTO (Standard & Poor's) May 19, 2011--Standard & Poor's Ratings Services today said it removed its ratings on Toronto-based Barrick Gold Corp. from CreditWatch, where they had been placed with negative implications April 26, 2011. At the same time, Standard & Poor's affirmed...
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: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- 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
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW6
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
