Fitch views AngloGold Ashanti negatively

Fitch Ratings said it revised the outlook on AngloGold Ashanti Ltd.'s to negative from stable and affirmed its issuer rating at BBB-. The agency also affirmed AngloGold Ashanti Holdings plc's senior unsecured notes, which are guaranteed by AGA, at BBB-.

“The revision of the outlook reflects weaker cost performance over the last two years, which has moved AGA's ranking on the global cost curve for all-in sustaining costs (AISC) to the fourth quartile. Management is pursuing an extensive cost and productivity improvement program that targets closing the gap in competitiveness and profitability compared with major peers. Fitch will monitor the progress of this efficiency program. Sustained operations in the fourth quartile would likely lead to a downgrade,” the agency said in a press release.

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