For immediate release 11 October 2016
Polyus Gold International Limited
Fitch Affirms Polyus Gold International Limited's 'BB-' rating;
Outlook Revised to Positive
Polyus Gold International Limited ("PGIL", or the "Company"), notes that Fitch Ratings has affirmed PGIL Long-term Issuer Default Rating at 'BB-'. PGIL's outlook is revised to Positive from Negative.
As key rating drivers, Fitch highlighted the Company's good quality gold reserves and large efficient open pit assets which underpin PGIL's leading competitive position on the global cost curve. In addition, Fitch noted the Company's strong production results and prospects and PGIL's intention to concentrate on streamlining and improving capacity at its key producing mines. Underpinning Fitch's decision to revise PGIL's outlook to Positive, was the Company's significant cash balance and prudent financial policy.
Forward looking statements
This announcement may contain "forward-looking statements" concerning PGIL. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of PGIL's operations. Many of these risks and uncertainties relate to factors that are beyond PGIL's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. PGIL assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.
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