DBRS changes Barrick Gold view

DBRS said it confirmed the issuer rating of Barrick Gold Corp. at BBB (low) and changed the trend to positive.

The agency said the trend change is a result of the significant progress that Barrick has made over the past two years in reducing its debt burden, which resulted in a moderate improvement in the company’s credit metrics for the last 12 months ended Sept. 30, compared with 2016 for the same period.

Moreover, despite the challenges of a rising interest rate environment, Barrick’s current investment-grade rating is supported by solid liquidity, its large size and scale as the world’s largest gold producer, cash costs in the lower half of the industry cost curve, its globally-diversified mining operations and the world’s largest proven and probable gold reserves, DBRS added.

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