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Barrick Gold Corp. 'A-' Ratings Affirmed, Removed From Watch On Transactions; Outlook Stable Sep 06
Standard & Poors, Sep 2006
Abstract
TORONTO (Standard & Poor's) Sept. 14, 2006--Standard & Poor's Ratings Services today said it affirmed its 'A-' long-term corporate credit and senior unsecured debt ratings, and its 'A-2' short-term credit rating on Barrick Gold Corp., as the company moves to complete the unsolicited acquisition of NovaGold Resources Inc. (unrated) and the sale of its South Deep mine in South Africa. The outlook is stable. At the same time, the ratings were removed from CreditWatch, where they were placed with negative implications July 25, 2006. 'The immediate financial effect of the pending US$1.5 billion all-cash bid for NovaGold is offset by the recently announced sale of Barrick's South Deep mine to Gold Fields Ltd. (unrated) for US$1.5 billion,' said Standard &...
Companies mentioned in this report are: Barrick Gold Corp.
Action: Affirmed
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.
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