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Barrick Gold Corp. 'A' Ratings Affirmed on Announced Share Buyback; Outlook Stable May 03
Standard & Poors, May 2003
Abstract
TORONTO (Standard & Poor's) May 7, 2003--Standard & Poor's Ratings Services today said it affirmed its 'A' long-term corporate credit and senior unsecured debt ratings, and its 'A-1' short-term corporate credit rating on Barrick Gold Corp. The outlook is stable. The ratings actions follow the announcement of Barrick's new share buyback program, under which the company can acquire up to 35 million of its common shares. The company has allocated up to US$500 million for this program. Under the program, Barrick would have a one-year period during which it could repurchase the shares, pending approval by The Toronto Stock Exchange. The company also is seeking approval for the share buyback program with the New York Stock Exchange. The ratings on...
Companies mentioned in this report are: Barrick Gold Corp.
Action: Affirmed
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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