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Barrick Gold Corp.'s US$1.25 Billion Debentures Rated 'A-' Sep 08
Standard & Poors, Sep 2008
Abstract
TORONTO (Standard & Poor's) Sept. 9, 2008--Standard & Poor's Ratings Services today said it assigned its 'A-' debt rating to the proposed US$1.25 billion unsecured debentures, issued by Barrick North America Finance LLC and Barrick Gold Financeco LLC, and unconditionally guaranteed by Barrick Gold Corp (Barrick). At the same time we affirmed the 'A-' long-term corporate credit rating on Barrick. The outlook is stable. 'The ratings on Barrick Gold Corp. reflect its 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. These strengths are counterbalanced by the company's narrow product diversity...
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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