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Article: SANTA FE PACIFIC GOLD $200 MILLION SENIOR SHELF RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --
- Article from:
- PR Newswire
- Article date:
- June 16, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, June 16 /PRNewswire/ -- Santa Fe Pacific Gold Corp.'s $200 million senior unsecured shelf registration is rated 'BBB-' by Fitch. The credit trend is stable. This is the first time that Fitch has rated Santa Fe Pacific Gold Corp.'s (Santa Fe Gold) debt.
The rating reflects Santa Fe Gold's strong debtholder protection, manageable debt maturity schedule, low production costs, and long reserve life. The rating also reflects the company's large capital expenditure commitment over the next few years, limited record as a standalone gold mining company, and the risks of gold price volatility, which is partially mitigated through its conservative hedging program.
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