Nord Gold N.V. -- Moody's: Nordgold's 5-year new facility with Sberbank is credit positive

London, 20 March 2014 -- Moody's Investors Service has today said that it views as credit positive for Nord Gold N.V. (Nordgold, Ba3 stable), a Russian gold producer with diversified global operations, the announcement early this week that it entered into a five-year facility agreement with Sberbank (Baa1 stable) to the amount of $500 million. The transaction will enable the company to reduce the average interest rates paid on its debt, extend the average length of its loan portfolio and improve its maturity profile. The Ba3 rating remains constrained by low gold prices and the fact that gold price volatility is likely to remain in 2014.

Vollständigen Artikel bei Moodys lesen