S&P lowers and subsequently withdraws PJSC Polyus credit rating
PJSC Polyus (LSE, MOEX: PLZL) («Polyus», or the «Company») notes that S&P Global Ratings («S&P») has lowered the Company’s Issuer Credit Rating to ’CC’ from ’CCC-’ and subsequently withdrawn Polyus’ Issuer Credit Rating on 1 April 2022. S&P highlighted that it has downgraded 42 Russian entities to ’CC’ from ’CCC-’ on 1 April 2022. All issue and issuer credit ratings remained on CreditWatch negative. The downgrades follow the lowering of ratings on Russia to ’CC/C’ from ’CCC-/C’ and downward revision of transfer and convertibility (T&C) assessment on Russia to ’CC’ from ’CCC-’ on 17 March 2022. S&P has also subsequently withdrawn its ratings on relevant Russian issuers following the decision of the European Union to ban the provision of credit ratings to Russia-based entities and debt.
Polyus
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 has 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).
Investor and Media contact
Victor Drozdov, Director Communications & Investor Relations Department
+7 (495) 641 33 77
drozdovvi@polyus.com
Forward-looking statements
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.