Moody's upgrades ratings outlook for Polyus Gold to Stable

MOSCOW, Jun 14 (PRIME) -- Global rating agency Moody's Investors Service has upgraded the outlook for ratings of Polyus Gold International Limited, which holds a majority stake in Russia's largest gold miner Polyus, to Stable from Negative, the agency said in a statement on Wednesday.

It also affirmed a corporate family rating of the company at Ba1 and the probability of default rating at Ba1-PD.

The change of outlook and the concurrent affirmation of the ratings reflect Moody's expectation that Polyus Gold will maintain its adjusted debt to EBITDA ratio below 3.5x on a sustainable basis, retain healthy liquidity and pursue a balanced financial policy, with no elevated shareholder distributions and capex, the agency said.

End