London, United Kingdom, 1 February 2021 — Nord Gold UK Societas (“Nordgold” or the “Company”), the internationally diversified gold producer, notes that Fitch Ratings has affirmed the Company’s Long-term Issuer Default Rating (the “IDR”) at ’BB’ and has revised the Outlook on the IDR to Positive from Neutral.
In its announcement, Fitch Ratings cites that the revision of the Outlook reflects their expectations of material total debt reduction in 2021 following the strong 2020 results and improving business profile.
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Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.