09:55 AM EDT, 06/17/2024 (MT Newswires) -- Fitch Ratings said late Friday that it affirmed IAMGold's ( IAG ) long-term issuer default rating at "B-," and revised the rating outlook to positive from stable.

Also, Fitch affirmed the company's senior unsecured notes, senior secured second lien term loan, and secured revolving credit facility at "B-"/"RR4."

The positive outlook reflects visibility into the commercial completion and ramp-up of the Cote Gold project (Canada), which will increase size, improve the company's overall cost position, and lower country risk.

The company's shares fell 1% on last look on Monday in Canada.

Price: 4.95, Change: -0.03, Percent Change: -0.60