RatingAug 6, 2026, 06:47 AM
Kinross Gold upgraded to 'BBB' by S&P Global Ratings
AI Summary
Kinross Gold Corporation announced that S&P Global Ratings upgraded its long-term issuer credit rating and issue-level rating on unsecured debt to 'BBB' from 'BBB-', with a stable outlook. S&P highlighted Kinross' improved credit measures, strong cash flow, and debt reduction. The company's CFO noted an exceptional financial position, including a $1.9 billion net cash position and $4.4 billion in total liquidity as of June 30, 2026, alongside $1.4 billion returned to shareholders since January 2025.
Key Highlights
- S&P Global Ratings upgraded Kinross' long-term issuer credit rating to 'BBB' from 'BBB-'.
- S&P also upgraded the issue-level rating on Kinross' unsecured debt to 'BBB' from 'BBB-'.
- The outlook for Kinross' rating is stable.
- S&P cited Kinross' meaningfully improved credit measures, solid cash flow, and debt reduction.
- Kinross reported a net cash position of $1.9 billion as of June 30, 2026.
- Total liquidity for Kinross was approximately $4.4 billion as of June 30, 2026.
- Kinross has returned $1.4 billion to shareholders since January 2025.
Price Impact
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