Moody's rates Nord Gold Aa3.ru

Moody's Interfax Rating Agency said it assigned an Aa3.ru national scale rating to Nord Gold NV. The outlook on the rating is stable.

On Monday, Moody's Investors Service assigned a Ba3 corporate family rating and Ba3-PD probability of default rating to the company and a provisional Ba3 (LGD4, 50%) rating to its proposed senior debt issue.

Proceeds will be used for refinancing and general corporate purposes.

The Ba3 rating "balances the company's diversified operational and geographic profile, strong credit metrics and conservative financial policy with its fairly small size, limited product diversification and execution risks related to realization of its development projects in jurisdictions with heightened business risk," Denis Perevezentsev, Moody's vice president and lead analyst for Nord Gold, said in a news release.

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