S&P: Kinross Gold view now positive

S&P said it revised its outlook on Kinross Gold Corp. to positive from stable and affirmed its BB+ long-term corporate credit rating on Kinross.

S&P also affirmed its BB+ issue-level rating on the company's unsecured notes. The 3 recovery rating on the notes is unchanged and reflects S&P’s view of meaningful (50%-70%; high end of the range) recovery in a default scenario, and an issue-level rating that is the same as the long-term corporate credit rating.

“The outlook revision primarily reflects the increase in our estimates of Kinross Gold's earnings, cash flow, and liquidity over the next two years following the upward revision to our gold price assumptions,” said S&P credit analyst Jarrett Bilous in a news release.

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