| Fri 17 Sep 2010, 12:33 | | GFI - Gold Fields Limited - Media Release |
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GFI
GOGOF
GFI - Gold Fields Limited - Media Release
Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN - ZAE000018123
MEDIA RELEASE
MOODY`S ASSIGNS GOLD FIELDS INVESTMENT GRADE CREDIT RATING
Johannesburg, 17 September 2010: Moody`s Investor Services ("Moody`s") today
assigned Gold Fields Limited ("Gold Fields") (JSE, NYSE, NASDAQ Dubai: GFI) a
first-time `Baa3` senior unsecured issuer rating. This investment grade rating
comes with a stable outlook.
Moody`s said that the rating reflected Gold Fields` position as the world`s
fourth-largest gold producer as well as the group`s very sizeable reserve base
and industry-leading reserve life in excess of 20 years. The stable outlook was
based on the expectation that Gold Fields would maintain healthy operating
margins and a conservative financial profile, Moody`s added.
Since March 2009, Standard & Poor`s Ratings Services ("S&P") has maintained an
investment grade rating on Gold Fields of `BBB-` with a stable outlook.
Paul Schmidt, Chief Financial Officer of Gold Fields said:
"We are pleased with Moody`s rating of Gold Fields as an investment grade
company. The rating supports our solid operating margins, low financial gearing
and conservative financial policy and will allow us to diversify our sources of
funding."
ends
Notes to editors
About Gold Fields
Gold Fields is one of the world`s largest unhedged producers of gold with
attributable production of 3.5 million gold equivalent ounces per annum from
nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields
also has an extensive growth pipeline with both greenfields and nearmine
exploration projects at various stages of development. Gold Fields has total
attributable gold equivalent Mineral Reserves of 78 million ounces and Mineral
Resources of 281 million ounces. Gold Fields is listed on JSE Limited (primary
listing), the New York Stock Exchange (NYSE), the NASDAQ Dubai Limited, the
Euronext in Brussels (NYX) and the Swiss Exchange (SIX).
Date: 17/09/2010 12:33:01 Produced by the JSE SENS Department.
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