Moody’s changes Alamos Gold to positive

Moody's Investors Service said it affirmed Alamos Gold Inc.'s (formerly AuRico Gold Inc.) B2 corporate family rating, B2-PD probability of default rating and B3 senior secured second-lien rating.

At the same time, Alamos' speculative grade liquidity rating was upgraded to SGL-2 from SGL-3 and its outlook was changed to positive from stable.

Moody’s said the outlook change was driven by improvements to Alamos' financial position and business profile resulting from the amalgamation of AuRico and Alamos Gold Inc. (Old Alamos) on July 2 to form Alamos. This transaction adds about 160,000 ounces of annual gold production from the Mulatos mine in Mexico and a substantial amount of cash while having no meaningful impact on AuRico's adjusted debt or operations.

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