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S&P revises Barrick view to positive
S&P said it revised the outlook for Barrick Gold Corp. to positive from stable, citing the company’s reduction in its debt.
“We have revised our outlook on the company to positive to reflect the material improvement in Barrick's balance sheet, and potential for the company to sustain credit measures at levels we view as strong for the current rating. The company's adjusted debt-to-EBITDA ratio (leverage) declined to 1.5x at year-end 2019 (from 2.9x in 2018), and we expect this ratio will improve to the low 1x area in 2020 and 2021,” S&P said in a press release.
The agency also affirmed Barrick’s BBB issuer and issue ratings.
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