S&P: Kinross, notes BBB-

Standard & Poor's said it assigned a BBB- long-term corporate credit rating to Kinross Gold Corp., along with the BBB- rating to the company's proposed senior unsecured notes.

The outlook is stable.

The ratings reflect the company's satisfactory business risk profile, characterized by long reserve lives and a competitive cost profile relative to other rated gold producers, S&P said.

The ratings are further supported by the company's moderate financial policies, underscored by low debt leverage amid historically high gold prices, the agency said.

These strengths are partially offset by the company's heavy reliance on a few key assets, operating and political risks inherent in the mining industry, exposure to volatile metals prices and large capital expenditures plans, S&P said.

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