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Barrick Gold Corp., Placer Dome Inc. Ratings Placed On CreditWatch On Acquisition Proposal Oct 05
Standard & Poors, Oct 2005
Abstract
TORONTO (Standard & Poor's) Oct. 31, 2005--Standard & Poor's Rating Services today said it placed its ratings on Barrick Gold Corp. on CreditWatch with negative implications after the company announced that it is making an unsolicited bid for Placer Dome Inc. At the same time, the ratings on Placer Dome were placed on CreditWatch with positive implications. A CreditWatch with negative implications means the ratings may be lowered or affirmed, while a CreditWatch with positive implications means the ratings may be raised or affirmed. 'Should the transaction be completed as proposed, the ratings are not likely to fall below Placer Dome's 'BBB+' long-term corporate credit rating,' said Standard & Poor's credit analyst Donald Marleau. 'The CreditWatch with negative implications on...
Companies mentioned in this report are: Barrick Gold Corp.,Placer Dome Inc.
Action: On CreditWatch:Positive
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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