St Barbara Limited
(ASX:SBM) has announced Moody’s Investors Services has raised the gold miner’s rating.
It’s rating now sits at B3 from Caa1 for the company and its senior secured debt, with a stable outlook.
Moody’s said the upgrade reflects the significant improvement in the company’s financial profile, underpinned by continued productivity improvements at its Simberi operation and strong production at the low cost Gwalia mine.
St Barbara said there is no change to the company’s existing debt arrangements as a consequence of Moody’s announcement.
St Barbara recorded a net profit of $77.45 million at 31 December 2015.
