AngloGold, Gold Fields May Have Ratings Cut to Junk by S&P
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AngloGold Ashanti Ltd. and Gold Fields Ltd. may have their debt ratings cut to junk by Standard & Poor’s after most of their South African output was halted by strikes and as the risk of operating in the nation rises.
Business risks “increased in light of continuing strike action in South Africa and the possible implications of increasing social tensions for the mining industry,”S&P said in a statement yesterday. It also revised its outlook on Anglo American Plc’s rating to negative from stable. AngloGold and Gold Fields are the world’s third- and fourth-largest producers of the metal respectively.