Moody’s Upgrades Barrick to Baa1 with Stable Outlook
October 29 2020 - 4:33PM
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 CEOMark Bristow+1
647 205 7694+44 788 071 1386
Senior EVP and CFOGraham
Shuttleworth+1 647 262 2095+44 779 771 1338
Investor and Media RelationsKathy du
Plessis+44 20 7557 7738Email: barrick@dpapr.com
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