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DBRS ups Barrick Gold
DBRS said it upgraded Barrick Gold Corp.’s rating to BBB from BBB (low) and changed the trend to stable from positive.
“The upgrade was due to Barrick’s ongoing benefits from its merger with Randgold Resources Limited as well as the successful formation of its 61.5%-owned Nevada Gold Mines (NGM) joint venture with Newmont Corp.(Newmont) in July 2019,” DBRS said in a press release.
The stable trend is based on DBRS’ expectations Barrick’s financial risk profile should remain at or modestly stronger than current levels over the next few years, the agency said.
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