07:19 AM EDT, 07/22/2025 (MT Newswires) -- Aura Minerals ( AUGO ) , which rose more than 3% on Monday, said overnight that S&P Global Ratings upgraded the company's credit ratings outlook to positive from stable.

The rating agency affirmed the company's B+ long-term issuer credit rating.

According to S&P, the upgraded outlook reflects Aura's U.S. listing as it "should allow accelerated growth" for it without any increase in leverage, its track record of constructing small to medium projects and successfully turning around older assets, and "record high" gold prices that are propelling free operating cash flow amid its "significant" expansion capital expenditure program.

Aura said S&P also indicated it could upgrade the rating over the next 12 months if the company grows, integrates Serra Grande and starts another project while keeping the gross debt to EBITDA ratio below 2.

Shares of the company closed up $1.03 to $34.07 on Monday on the Toronto Stock Exchange.