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Barrick Gold Corp.'s Proposed US$750 Million Unsecured Notes Rated 'A-'; CCR Affirmed At 'A-' Mar 09
Standard & Poors, March 2009
Abstract
TORONTO (Standard & Poor's) March 20, 2009--Standard & Poor's Ratings Services today said it assigned its 'A-' debt rating to Barrick Gold Corp.'s proposed US$750 million unsecured notes. At the same time we affirmed the 'A-' long-term corporate credit rating on Barrick. The outlook is stable. 'The ratings on Barrick reflect our view of the company's position as the world's largest gold producer, with a broad base of operations, below-average cash costs, and a modest financial risk profile, characterized by good profitability and low debt leverage,' said Standard & Poor's credit analyst Donald Marleau. 'We believe these strengths are counterbalanced by the company's narrow product diversity and the attendant exposure to volatile gold and copper prices, rising operating costs, and...
Companies mentioned in this report are: Barrick Gold Corp.
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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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