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Barrick Gold Corp. May 10
Standard & Poors, May 2010
Abstract
Long-lived low-cost reserve base Broadly diversified operating and political risk Moderate use of debt Good pipeline of development projects Exposure to volatile gold and copper prices Long lead time and large capital expenditures to execute growth plans The ratings on Toronto-based Barrick Gold Corp. reflect Standard & Poor's Ratings Services' 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 strong profitability and liquidity. 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 large capital expenditure plans. Barrick's breadth of low-cost mines supports our view...
Companies mentioned in this report are: Barrick Gold Corp.,Placer Dome Inc.,Barrick International Bank Corp.
Action: Review
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: Full Analysis
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