Fitch Ratings said Tuesday that it has affirmed Goldcorp Inc.'s (GG) Issuer Default Rating and ratings on the unsecured revolving credit and unsecured notes at 'BBB'.
The Rating Outlook is Stable.
Fitch said Goldcorp's credit rating reflects its sizable long lived reserves in areas of relatively low geopolitical risk, favorable cost position and strong project pipeline as well as plans for substantial development spending over the medium term.
Goldcorp is committed to maintaining a conservative investment grade capital structure given its exposure to gold prices. In weak gold markets, the company has the ability to defer development and exploration and focus on cash preservation, the rating agency said.
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