PJSC Polyus (LSE, MOEX — PLZL) («Polyus», or the «Company») notes that JSC «Rating agency «Expert RA» («Expert RA») has upgraded the Company’s credit rating from ‘ruAA+’/stable to ‘ruAAA’ with a stable outlook, the highest credit rating provided by the agency.
In assigning Polyus a rating of ‘ruAAA’, Expert RA highlighted the Company’s constantly improving credit metrics and the positive results of the Pre-Feasibility Study for Sukhoi Log, the Company’s key greenfield project. The upgrade also reflects Polyus’ ongoing focus on advancing its brownfield projects, high standards of corporate governance as well as best-in-class disclosure practices.
Mikhail Stiskin, Senior Vice President, Finance and Strategy, commented:
«We welcome Expert RA’s decision to assign Polyus the highest credit rating. We are pleased that our commitments to operational excellence and our balanced financial policy are recognized by rating agencies.»
Polyus is the world’s fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold Ore Reserves. The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
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This announcement may contain «forward-looking statements» concerning Polyus and/or Polyus group. 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 Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’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. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.