S&P gives AngloGold Ashanti plc BB+

S&P said it assigned a BB+ long-term issuer credit rating to the new parent entity AngloGold Ashanti plc, following the group's new organizational structure and withdrew the ratings on AngloGold Ashanti Ltd.

AngloGold Ashanti has changed its domicile to the U.K. from South Africa and its primary listing to the New York Stock Exchange from the Johannesburg Stock Exchange. AngloGold Ashanti Holdings plc, the existing bond issuer, is 100% owned by the new established entity and will remain the owner of the group's operating assets.

“In our view, the group will now be domiciled in a jurisdiction with a lower country risk and with established legal, regulatory, and tax frameworks. We will closely monitor the group's operating performance, as higher-than-expected production unit costs and one-off transaction-related costs put upward pressure on the group's leverage,” S&P said in a statement.

The stable outlook reflects the outlook on the previous corporate structure, the agency said.

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