10:08 AM EDT, 06/17/2024 (MT Newswires) -- Fitch Ratings on Friday affirmed Agnico Eagle Mines' ( AEM ) long-term issuer default rating and senior unsecured debt ratings at "BBB+." The rating outlook is stable.

"The ratings reflect Agnico's size, scale and operations in favorable mining jurisdictions," the rating agency noted.

Fitch expects Agnico to sustain EBITDA leverage at, or below, 1.5 times, and maintain its average cost position in the second quartile of the global cost curve. Additionally, Fitch expects the company's average operating mine life to be at least 10 years.

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