Fitch Affirms Nordgold’s BB Credit Rating with Stable Outlook
London, United Kingdom, 12 February 2019 — Nord Gold SE (“Nordgold” or the “Company”), the internationally diversified gold producer, announces that Fitch Ratings has affirmed the Company’s Long-Term Issuer Default Rating (the “IDR”) at BB’.
The Outlook on the Company’s Long-Term IDR is Stable. The Short-Term IDR was affirmed at ’B’.
In its announcement, Fitch Ratings cites that the rating affirmation reflects Fitch’s view that Nordgold will achieve solid operational and financial performance in 2019-2021 after a challenging 2018. Additional gold volumes from commissioned in H2 2018 Gross mine and the Berezitovy underground mine should increase the Company’s total annual output.
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