London, United Kingdom, 9 March 2017 – Nord Gold SE (“Nordgold” or the “Company”, LSE: NORD) announces 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 Stable.
In its announcement, Fitch Ratings cites that the revision of the Outlook to Positive reflects a combination of the operational benefits expected from the commissioning of the Company’s Gross mine in Russia in H1 2018, together with an expected improvement in credit metrics post-2017.
Nordgold is an internationally diversified gold producer established in 2007. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The Company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cashflows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2016, Nordgold produced 869 koz of gold.
Nordgold operates 9 mines (4 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan). It has one project in construction phase (Gross in Russia), several prospective projects in feasibility study, advanced exploration phase and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.
Nordgold
Elena Vasyatkina
Investor Relations Specialist
Tel: +7 495 644 4473
Olga Ulyeva
Head of Media Relations
Tel: +7 495 644 4473
Powerscourt
Peter Ogden
Giles Read
Tel: +44 (0) 20 7250 1446
