Fitch affirms Impala Platinum

Fitch Ratings said it affirmed Impala Platinum Holdings Ltd.'s BBB+ long-term issuer default rating, F2 short-term issuer default rating, AA(zaf) long-term national rating and F1+ short-term national rating.

The outlook is stable.

The affirmation follows the company's announcement that it plans to acquire fellow platinum producers Northam Platinum and Mvela Resources through a combination of cash (30%) and new shares (70%). Based on the offer terms and the financial results of the three entities, Fitch believes the combined group should maintain a financial profile consistent with the existing BBB+ rating.

In addition, the proposed transaction would provide Impala with enhanced scale and operational diversification, the agency said.

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