SOUTH AFRICA - AUGUST 05: An exterior view of Gold Fields head office can be seen in Parktown, Johannesburg, South Africa, on Friday, August 5 2005. South Africa's gold industry is headed for its biggest strike in 18 years as 170,000 workers prepare to walk off the job over pay. The stoppage, which may cost companies such as Johannesburg-based AngloGold Ashanti Ltd. and Gold Fields Ltd. a combined 78 million rand ($12 million) a day in revenue, according to Deutsche Securities, is due to start Aug. 7. (Photo by Naashon Zalk/Bloomberg via Getty Images)

S&P upgrades Gold Fields’ credit rating

On May 5, 2022, 4:41 AM

Ratings agency S&P Global Ratings has upgraded JSE- and NYSE-listed Gold Fields’ credit rating from BBB- to BB+, while also upgrading the company’s debt ratings on its senior unsecured notes.

Gold Fields said on May 3 that S&P also raised the short-term rating for the company to A-3 from B and affirmed its zaAAA/zaA-1+ South African national scale ratings.

“This upgrade puts Gold Fields on an investment-grade credit rating at both S&P and Moody’s Investors Service and highlights the work we have done in recent years to strengthen the balance sheet,” said Gold Fields CFO Paul Schmidt.

Story By miningweekly.com

Gold Fields