Moody's Upgrades Barrick to Baa1 with Stable Outlook

 

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that Moody's Investors Service ("Moody's") has upgraded the senior unsecured ratings of Barrick and all rated subsidiaries to Baa1 from Baa2, with a Stable outlook.

 

In a news release announcing the upgrade, Moody's noted that Barrick's liquidity is excellent, which provides significant flexibility to maneuver through gold price volatility.

 

Senior executive vice-president and chief financial officer Graham Shuttleworth said "this upgrade reflects the significant progress that Barrick has made in strengthening our balance sheet since the merger with Randgold. The improvements that we've made to our operations combined with increased gold prices have led to the generation of strong operating and free cash flows, enhanced liquidity, and a reduction in net debt, and we expect to continue to build on these achievements going forward."

 

  Enquiries:  

 

  President and CEO  
Mark Bristow  
+1 647 205 7694
+44 788 071 1386

 

  Senior EVP and CFO  
Graham Shuttleworth  
+1 647 262 2095
+44 779 771 1338

 

  Investor and Media Relations  
Kathy du Plessis  
+44 20 7557 7738
Email: barrick@dpapr.com

 

  Primary Logo 

 

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)

Barrick Mining

Barrick Gold Corp is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment. Geographically, it derives a majority of revenue from the United States.

Adrian Day, gold bars.

Adrian Day: Gold Price Drivers Stacking Up, Any Pullback a Chance to Buy

Adrian Day, president of Adrian Day Asset Management, shares his latest thoughts on gold.

He also discusses the opportunity in gold stocks, saying that while as a group they're up 55 percent in last year, valuation metrics are lower than they were two years ago.

Keep reading...Show less
Sandymount, Otago Peninsula, Dunedin, South Island, New Zealand.

Finding Gold: Exploring New Zealand’s Next Big Discovery

Despite its rich mining legacy, New Zealand remains one of the most underexplored frontiers for gold in the developed world. Now, with advanced exploration tools and a new generation of explorers, the country is emerging as a hotbed of untapped investment opportunity.

Modern exploration activities and promising geologies across the country may offer indications of where New Zealand’s next big gold discovery could be.

Keep reading...Show less
High Priority Gold Targets to be drilled at Leonora South

High Priority Gold Targets to be drilled at Leonora South

Asra Minerals (ASR:AU) has announced High Priority Gold Targets to be drilled at Leonora South

Download the PDF here.

Latest Press Releases

Related News

×