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Newmont Mining Corp.'s Proposed Senior Unsecured Notes Rated 'BBB+' Mar 12 Product Image

Newmont Mining Corp.'s Proposed Senior Unsecured Notes Rated 'BBB+' Mar 12

  • ID: 2083270
  • March 2012
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) March 5, 2012--Standard & Poor's Ratings Services said today that it has assigned its 'BBB+' issue-level rating to U.S.-based Newmont Mining Corp.'s proposed senior unsecured notes due 2022 and 2042. The company is issuing the notes under its shelf registration for well-known and seasoned issuers filed on Sept. 15, 2009. The notes will be senior unsecured obligations and will rank equally with all of Newmont's existing and future unsecured and unsubordinated debt. We expect the company to use proceeds to repay borrowings under its revolving credit facility and for general corporate purposes. Our 'BBB+' corporate credit rating and stable outlook on Newmont reflect our view of the company's "satisfactory" business risk profile and "modest" financial...

Companies mentioned in this report are: Newmont Mining Corp.
Action: New Rating

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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