Gold miner AngloGold Ashanti (ANG) has welcomed reports that ratings agency Standard & Poor’s (S&P) has affirmed the miner’s publicly traded debt‚ of BBB-‚ following an extensive review.
“AngloGold Ashanti is pleased to note that Standard & Poor's has affirmed the investment grade rating on the company's publicly traded debt following an extensive review‚” it said on Monday.
“We’ve taken strong‚ decisive action to maintain our investment grade rating and preserve our financial stability and flexibility‚” CEO Mark Cutifani said.
This news came after the rating agency downgraded SA’s sovereign debt rating in October and several entities in the country.
“Maintaining a strong and stable financial foundation has always been key to ensuring we have cost-effective access to capital over the long-term‚” said AngloGold Ashanti’s CFO‚ Srinivasan Venkatakrishnan.
“Despite the raft of macro headwinds we’ve faced during the recent months‚ we’ve shown that we have the strategy‚ portfolio and the team to make good on our commitments‚” he said. - I-Net Bridge