Moody's assigns Kinross notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Kinross Gold Corp.'s $350 million proposed senior unsecured notes issue due 2024.

Proceeds will be used to reduce the company's existing $1 billion term loan facility due 2017.

The transaction is neutral to Kinross' leverage and liquidity and consequently has no effect on its existing Baa3 senior unsecured ratings or negative outlook.

Moody's said the Baa3 senior unsecured rating considers the large scale of its operations, current financial strength and excellent liquidity, all of which provides significant financial flexibility to manage its operations in a lower gold price environment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.