Moody's: Kinross view to negative

Moody's Investors Service said it affirmed Kinross Gold Corp.'s Baa3 senior unsecured rating and changed the outlook to negative from stable.

"The change in Kinross' ratings outlook to negative reflects our concern that, over the next couple of years, the company's production concentration, political risks and financial leverage may increase while its gold output may decline modestly," Moody's vice president and senior credit officer Darren Kirk said in a news release, noting that the agency's analysis incorporates a gold price sensitivity of $1,100/oz.

"These trends could result in a credit profile that is inconsistent with Kinross' current Baa3 rating.",

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