Moody’s Investors Service upgrades Barrick’s unsecured ratings
Barrick Gold Corporation reported that Moody’s Investors Service has upgraded the senior unsecured ratings of Barrick and all rated subsidiaries to Baa2 from Baa3, with a stable outlook.
In a news release announcing the upgrade, Moody’s cited Barrick’s low adjusted leverage, large scale, diverse and low-cost gold assets;, free cash flow generation; and favorable geopolitical risk profile, noting “Barrick’s liquidity is excellent, which provides significant flexibility to maneuver through gold price volatility.”
To qualify, an applicant’s ranch or farm must have belonged to his or her family for at least 100 years and must be a working ranch or farm with a minimum of 160 acres. Operations with fewer than 160 acres must have gross yearly sales of at least $1,000.