TSX- and NYSE-listed Kinross Gold has attained its third investment grade credit rating, with Moody’s Investor Service joining S&P Global Ratings and Fitch Ratings in its ratings decision.
Kinross’ senior unsecured notes rating was this week upgraded to Baa3 from Ba1, with a stable outlook.
Moody’s noted that the upgrade was owing to Kinross’ cash cost being in line with investment grade peers, steady production and conservative financial policies.
Kinross’ total liquidity at December 31, 2019 was more than $2-billion, including cash and cash equivalents of $575-million and available credit of about $1.5-billion.
Canada-based Kinross has mines and projects in the US, Brazil, Russia, Mauritania, Chile and Ghana.