https://www.miningweekly.com
Financial|Mining|Platinum
Financial|Mining|Platinum
financial|mining|platinum

GCR upgrades Northam's credit rating

9th October 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Credit rating agency Global Credit Rating (GCR) has upgraded platinum group metals mining company Northam Platinum’s national scale long-term credit rating to A(ZA), from a previous rating of A-(ZA) and its short-term credit rating to A1(ZA), from the previous rating of A2(ZA), with a stable outlook.

The upgrade primarily reflects Northam’s strengthened earnings profile and expectations of continued robust free cash flows and financial metrics on the back of favourable commodity prices.

Other factors sighted by GCR include the surge in Northam’s profitability in recent years, its rising production volumes, the positive manner in which Northam managed and recovered from the impact of Covid-19, the group’s globally competitive cost position and Northam’s record of maintaining conservative financial policies.

GCR continues to view Northam’s liquidity as strong, Northam noted in an October 9 statement.

The stable outlook also reflects GCR’s view that the group will pursue a conservative financial profile and will continue to benefit from its ongoing production ramp up against supportive pricing levels, which are expected to translate into robust margins and cash flows to sustain strong credit metrics over the next 12 to 18 months.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.134s - 89pq - 2rq
Subscribe Now