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Barrick Gold Corp. Jun 11
Standard & Poors, June 2011
Abstract
Long-lived, low-cost reserve base Broadly diversified operating and political risk Good pipeline of development projects Exposure to volatile metals prices Heavy acquisition-related debt load Long lead time and large capital expenditures to execute growth plans The ratings on 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 and below-average cash costs as well as its leading copper market position. We believe these strengths are counterbalanced somewhat by the company's narrow product diversity and its reliance on volatile gold and copper prices, cost pressures affecting all mining companies, and large capital expenditure plans. Barrick's breadth of low-cost mines supports our opinion of its satisfactory...
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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