Ratings agency S&P Global Ratings has upgraded JSE- and NYSE-listed Gold Fields’ credit rating from BBB- to BB+, while also upgrading the company’s debt ratings on its senior unsecured notes.
Gold Fields said on May 3 that S&P also raised the short-term rating for the company to A-3 from B and affirmed its zaAAA/zaA-1+ South African national scale ratings.
“This upgrade puts Gold Fields on an investment-grade credit rating at both S&P and Moody’s Investors Service and highlights the work we have done in recent years to strengthen the balance sheet,” said Gold Fields CFO Paul Schmidt.