S&P: China Gold view to stable

S&P said it revised the outlook on China Gold International Resources Corp. Ltd. to stable from negative and affirmed its BBB- long-term corporate credit rating.

The agency also affirmed the BBB- long-term issue rating on the notes that Skyland Mining (BVI) Ltd. issued. China Gold guarantees the notes.

S&P said the ratings follow the same action on the company's parent China National Gold Group Corp. (CNG; BBB/stable/--).

The agency said it revised the outlook to stable because it expects the company's profit, cash flow and leverage ratios will improve over the next two years owing to stable gold prices, improving copper prices, and the company's increasing sales volume and continued cost controls.

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