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financial|mining|projects|service|operations

Moody’s upgrades Sibanye-Stillwater’s credit rating

3rd May 2022

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

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Credit ratings company Moody’s Investors Service has upgraded JSE- and NYSE-listed precious and battery metals miner Sibanye-Stillwater’s corporate family rating (CFR) from Ba3 to Ba2 with a positive outlook.

Moody’s notes that the rating action reflects the strong financial performance that Sibanye has displayed over the past two years and its record of maintaining capital allocation discipline.

Moody’s also notes that Sibanye has used its strong cash flows to balance between various strategic objectives, including strengthening its balance sheet and enhancing liquidity, investing in existing assets and executing on its strategy to expand into battery metals.

This is in addition to the miner rewarding shareholders through dividends and share buybacks.

Sibanye CEO Neal Froneman says the market is starting to recognise the company’s transition from a single commodity mining company in 2013 to a growing multinational mining and metals group, with a diverse portfolio of mining and processing operations, projects and investments across five continents.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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