Fitch Ratings said Friday that it has affirmed the Issuer Default Rating of Kinross Gold Corp. (KGC, K.TO) at 'BBB-'.
The Rating Outlook is Stable.
Fitch said Kinross' ratings reflect its sizable reserves, average cost position, average geopolitical risk position, and the potential for substantial development spending over the medium term taken with the company's commitment to maintain a conservative 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.
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