Moody’s ups Barrick Gold to Baa2

Moody's Investors Service said it upgraded the senior unsecured ratings of Barrick Gold Corp. and all rated subsidiaries to Baa2 from Baa3.

The outlook remains stable.

"The upgrade reflects Barrick's aggressive deleveraging with the expectation that debt will be reduced further, to about $5 billion by the end of 2018, so that adjusted leverage will remain well below 2x even as production declines," Moody's vice president, senior analyst Jamie Koutsoukis said in a news release.

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