Moody's rates Gold Fields Baa3

Moody's Investors Service said it assigned a first-time Baa3 local-currency senior unsecured issuer rating to Gold Fields Ltd.

The outlook is stable.

The rating reflects Gold Fields' position as the world's fourth-largest gold producer and its sizeable reserve base, Moody's said.

But the group is less diversified than some of its key peers, with key producing assets located in South Africa, the agency said. The ratings will benefit from the company's plans to reduce its exposure to South Africa by growing its international presence, Moody's added.

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