Fitch affirms Goldcorp

Fitch Ratings said it affirmed the issuer default rating at BBB for Goldcorp Inc., its $862.5 million senior convertible notes at BBB and the $2 billion senior unsecured revolving credit facility at BBB.

The outlook is stable.

Goldcorp's ratings reflect its sizable long-lived reserves in areas of relatively low geopolitical risk, favorable cost position and strong project pipeline as well as plans for substantial development spending over the medium term, the agency said.

Financial leverage is about 0.28x for the 12 months ended March 31.

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