Kinross upgraded by Moody’s to investment grade
March 03 2020 - 9:00AM
On March 2, 2020, Moody’s Investor Service ("Moody's") announced
that it upgraded Kinross Gold Corporation’s credit rating (TSX:K;
NYSE:KGC) to investment grade. Kinross’ senior unsecured notes
rating was upgraded to Baa3 from Ba1, with a stable outlook.
Kinross now has investment grade credit ratings
from Moody’s, S&P Global Ratings and Fitch Ratings, all three
rating agencies that rate the Company’s debt.
Moody’s noted that the upgrade was due to
Kinross’ cash cost being in line with investment grade peers,
steady production and conservative financial policies.
Kinross’ total liquidity at December 31, 2019
was more than $2 billion, including cash and cash equivalents of
$575 million and available credit of approximately $1.5
billion.
About Kinross Gold
Corporation
Kinross is a Canadian-based senior gold mining
company with mines and projects in the United States, Brazil,
Russia, Mauritania, Chile and Ghana. Kinross’ focus is on
delivering value based on the core principles of operational
excellence, balance sheet strength, disciplined growth and
responsible mining. Kinross maintains listings on the Toronto Stock
Exchange (symbol:K) and the New York Stock Exchange
(symbol:KGC).
Media Contact
Louie DiazSenior Director, Corporate Communications phone:
416-369-6469 louie.diaz@kinross.com
Investor Relations ContactTom
ElliottSenior Vice-President, Investor Relations and Corporate
Developmentphone:
416-365-3390
tom.elliott@kinross.com
Source: Kinross Gold Corporation
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