Moody’s revises Newcrest view to positive

Moody's Investors Service said it affirmed the Baa3 long-term issuer rating of Newcrest Mining Ltd. and Baa3 senior unsecured ratings of Newcrest Finance Pty Ltd. and changed the outlooks to positive from stable.

"The change in the outlook on the ratings to positive from stable reflects the material debt reduction the company has achieved on the back of a higher than expected gold prices," Moody's vice president and senior credit officer Matthew Moore said in a news release.

"This combined with continued strong all in sustaining cost (AISC) levels has allowed the company to achieve strong leverage metrics for the rating and improve its liquidity profile."

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