Research Update: Barrick Gold Corp. Downgraded To 'BBB' From 'BBB+' On Weakening Prospects For Debt Reduction; Outlook Negative Apr 13
- Language: English
- Published: April 2013
The ratings on Barrick Gold Corp. recognize its strong business position as the third-largest gold producer in the world, with cash costs in the second quartile. The company's annual production was 5.7 million ounces in 2002, with total cash operating costs of US$177 per ounce and proven and probable ore reserves of 86.9 million ounces. Barrick's operations now include 11 properties on four continents, including Goldstrike in the U.S., which had annual production of more than 2.05 million ounces in 2002. The company has experienced positive results at its newly completed mines, including Bulyanhulu in Tanzania, which generated 356,000 ounces of gold in 2002, and with its exploration, with the announcement in April 2002 of a significant gold discovery at...
Companies mentioned in this report are: Barrick Gold Corp.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Barrick Gold Corp.