- Language: English
- 774 Pages
- Published: October 2012
- Region: World
Research Update: Barrick Gold Corp. Off CreditWatch, Ratings Affirmed At 'A-' On Proposed Transactions Sep 06
- Published: September 2006
- Standard & Poors
On Sept. 14, 2006, Standard & Poor's Ratings Services 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. 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. Although South Deep's contribution to Barrick's cash flow has been minimal since...
Companies mentioned in this report are: Barrick Gold Corp.,Placer Dome Inc.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Barrick Gold Corp.,Placer Dome Inc.
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