Moody's affirms Golden Energy

Moody's Investors Service said it affirmed the B1 corporate family rating of Golden Energy And Resources Ltd. (GEAR).

At the same time, Moody's has affirmed the B1 rating on the senior secured bond issued by GEAR.

The outlook remains stable.

“The rating affirmation reflects the solid operating performance of GEAR's Indonesian thermal coal mining subsidiary despite challenging conditions, and its improving business profile with growing exposure to metallurgical coal and gold in Australia,” says Maisam Hasnain, a Moody's assistant vice president and analyst, in a news release.

“GEAR's B1 ratings also incorporate our expectation that the company will maintain prudent financial policies, particularly with respect to its growth and diversification strategy.”

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