Johannesburg - AngloGold Ashanti [JSE:ANG] has announced that its
investment grade rating on publicly traded debt has been affirmed by Standard
& Poor’s. The rating was completed following a comprehensive review.
"We've taken strong, decisive action to maintain our
investment grade rating and preserve our financial stability and flexibility,"
said Mark Cutifani, AngloGold’s Chief Executive Officer (CEO).
“At the same time our strategy to improve the quality and
diversity of our portfolio remains firmly on track," said Cutifani.
The confirmation of the BBB- (with negative outlook) comes
two months after South Africa’s sovereign debt rating and several of the
country’s corporates was downgraded by the agency.
The decision is seen to acknowledge AngloGold Ashanti’s
large production base and its new projects that are currently in final stages
"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 Srinivasan Venkatakrishnan, AngloGold
Ashanti's Chief Financial Officer (CFO).
Venkatakrishnan led the group through the rating
"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," said Venkatakrishnan.
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