09:42 AM EDT, 06/17/2024 (MT Newswires) -- Fitch Ratings said late Friday that it affirmed Kinross Gold's ( KGCRF ) issuer default rating at "BBB."

The rating outlook remains stable.

Also, Fitch affirmed the issue-level rating on the senior unsecured credit facility, senior unsecured term loan, and senior unsecured notes at "BBB."

The ratings and outlook reflect Fitch's view that Kinross Gold ( KGCRF ) will maintain an average mine life of at least 10 years, an average cost position in the second quartile of the global cost curve, and an average annual production of at least 2 million gold equivalent ounces.

Additionally, the ratings and outlook take into account that the company will prioritize debt repayment while EBITDA net leverage is above 1.7x; and generally, manage EBITDA leverage below 2.3x.

Price: 10.12, Change: -0.07, Percent Change: -0.69