In 2013, the credit rating agencies Moody’s and Fitch have both assigned first time credit ratings to Nordgold.
|Credit rating||Ba3/Stable||BB-/ Stable|
|Date of rating||19 March 2015||18 April 2013|
In its analysis of Nordgold, Moody’s notes the company’s diversified operational and geographic profile, long-life reserve base, conservative financial policy as well as strong corporate governance practices. The stable outlook on the rating assumes that Nordgold will follow its strategy of organic growth and continue to generate significant operating cash flows.
In its release Fitch notes that Nordgold has a well-diversified portfolio of assets with the Bissa mine expecting to further enhance the company’s operational diversification. Furthermore, the rating takes into consideration such factors as change of focus to organic growth, strong liquidity position and good representation of independent directors.