S&P placed the ratings of Polyus Gold and the “Pole” on CreditWatch Positive




S&P Global Ratings has placed the Issuer credit ratings of “BB-” gold mining company Polyus Gold International Ltd. and its key subsidiaries of PJSC “Polyus” in the Positive CreditWatch (“ratings on review with positive expectations”). At the same time the ratings are ‘BB -‘ issue senior unsecured bonds of Polyus Gold placed on CreditWatch Positive.

“On June 5, 2017 PJSC “Polyus” has announced plans to hold an SPO to sell at least 7% of the shares in the coming months. We believe that the completion of this transaction will help to reduce the risk of high payment of a special dividend or conduct a share buyback, which we are currently accounted for in the rating company. We note that at this stage there is still uncertainty regarding the timing of the SPO and the value of the shares, but anticipate that the transaction will be completed in the next two months. Based on the current market value of the shares, we believe that revenue may be about $ 700 million., which, we believe, can be used by the company and its shareholder in order to reduce the debt burden,” – said the Agency.



S&P placed the ratings of Polyus Gold and the “Pole” on CreditWatch Positive 08.06.2017

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