Newmont Upgraded to BBB+ by S&P
31 Março 2022 - 8:30AM
Business Wire
Newmont Corporation (NYSE: NEM, TSX: NGT) today announced that
S&P Global Ratings (S&P) has upgraded Newmont’s issuer
credit rating to BBB+ from BBB with a stable outlook. The upgrade
is supported by Newmont’s balance sheet strength and disciplined
capital allocation priorities, in addition to higher future
production and improving costs.
The upgrade from S&P follows Newmont’s issuance of the
mining industry’s first sustainability-linked bond in December
2021. The $1.0 billion note is linked to Newmont’s performance
against key environmental, social and governance (ESG) commitments,
including the Company’s 2030 emissions reduction targets and the
representation of women in senior leadership roles target.
“The upgrade from S&P is a reflection of Newmont’s financial
strength and flexibility as we continue to apply our disciplined
approach to capital allocation across price cycles,” said Newmont
President and CEO Tom Palmer. “We continue to strengthen our
balance sheet whilst aligning our financing strategy with our ESG
commitments, ensuring that we are well-positioned to create
long-term value for the business and all of our stakeholders for
decades to come.”
Newmont ended 2021 with $5.0 billion of consolidated cash and
$8.0 billion of liquidity with a net debt to adjusted EBITDA ratio
of 0.2x. Newmont’s capital allocation philosophy remains unchanged
and balances steady reinvestment in the business, maintaining
financial strength and flexibility, and providing leading returns
to shareholders.
About Newmont
Newmont is the world’s leading gold company and a producer of
copper, silver, zinc and lead. The Company’s world-class portfolio
of assets, prospects and talent is anchored in favorable mining
jurisdictions in North America, South America, Australia and
Africa. Newmont is the only gold producer listed in the S&P 500
Index and is widely recognized for its principled environmental,
social and governance practices. The Company is an industry leader
in value creation, supported by robust safety standards, superior
execution and technical expertise. Newmont was founded in 1921 and
has been publicly traded since 1925.
Legal Cautionary Statement:
This release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements relating expectations
regarding long-term value creation, future financial strength and
flexibility, future capital allocation and return to shareholders,
and future performance against sustainability targets.
Forward-looking statements provide the Company’s current
expectations about future events, but these statements are not
guarantees of future results or performance and involve certain
risks, uncertainties and assumptions difficult to predict or beyond
our control. Investors should not place undue reliance on any
forward-looking statement and should consider the uncertainties and
risks discussed in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2021 under the heading “Risk Factors,”
including in connection with any downgrade in the credit ratings,
filed with the U.S. Securities and Exchange Commission (the “SEC”)
and available on the SEC website or www.newmont.com, as well as the
Company’s other SEC filings. The Company does not undertake any
obligation to release publicly revisions to any “forward-looking
statement,” to reflect events or circumstances after the date of
this news release, or to reflect the occurrence of unanticipated
events, except as may be required under applicable securities
laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220330005900/en/
Media Contact Courtney Boone
303.837.5159 courtney.boone@newmont.com
Investor Contact Daniel Horton
303.837.5468 daniel.horton@newmont.com
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