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Barrick Gold Corp.-Guaranteed Proposed US$1 Billion Notes Assigned ?A-' Ratings Oct 06
Standard & Poors, Oct 2006
Abstract
TORONTO (Standard & Poor's) Oct. 3, 2006--Standard & Poor's Ratings Services today said it assigned its 'A-' rating to the proposed US$1 billion unsecured notes issued by ABX Financing Co. (ABXFC; ABXFC notes). At the same time, Standard & Poor's assigned its 'A-' rating to the proposed US$1 billion notes issued by Barrick International Bank Corp. (BIBC; Barrick notes), a wholly owned subsidiary of Barrick Gold Corp. (A-/Stable/A-2). The ABXFC notes are effectively backed by the Barrick notes, and will be exchanged for Barrick notes in September 2009. Both issues are unconditionally and irrevocably guaranteed by Barrick Gold Corp. 'The rating on the ABXFC notes is supported by the credit quality of the Barrick notes, including the maintenance of an...
Companies mentioned in this report are: Barrick Gold Corp.
Action: Preliminary Rating
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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