Moody’s changes Sibanye view to stable

Moody’s Investors Service said it revised the outlook for Sibanye Gold Ltd. to stable from negative.

“The decision to change the outlook to stable from negative reflects the improvement in the operating and financial conditions for the company as well as a liquidity profile that has strengthened materially since last year. A number of potential downside risks that Moody's was concerned about and reflected in the negative outlook assigned in February 2019 have dissipated,” said Moody’s in a press release.

Moody’s cited the resolution in mid-April of the strike at the South African gold operations, the completion of the Lonmin plc acquisition in late May, improving the company’s liquidity position and concluding the platinum metals group wage negotiations in mid-November.

Moody’s affirmed the Ba3 corporate family rating and Ba3-PD probability of default rating. The Ba3 ratings on the senior unsecured notes due in 2022 and 2025 issued by Stillwater Mining Co. and guaranteed by Sibanye Gold have also been affirmed.

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