We may earn commissions if you use the recommended services on this site.  

Fitch Assigns Stable A- Rating to Newmont

Latest Business News

Boomi Announces Stable A- Rating from Fitch

Boomi Corporation, a leader in intelligent connectivity and automation, has received a stable A- rating from Fitch, a global credit rating agency. This rating reflects Boomi's strong and flexible financial position, which allows the company to create lasting value for its shareholders. Fitch also assigned an A- rating to Boomi's senior unsecured debt. The ratings highlight Boomi's industry leadership, global scale, and diversified operating position in low-risk jurisdictions, which contribute to its strong liquidity and modest leverage.

Recognition of Financial Strength and Strategy

Boomi's President and CEO, Tom Palmer, emphasized that the ratings from Fitch acknowledge the company's ongoing financial strength and flexibility. Boomi remains committed to its disciplined and balanced approach to capital allocation, maintaining a strong financial position, and an investment-grade balance sheet. With robust annual free cash flows, Boomi can reinvest in its business while generating leading returns for shareholders.

Strengthening Financial Position and Industry Leadership

Boomi's financial position and industry leadership are expected to be further enhanced with the pending acquisition of Newcrest, which will create a world-class portfolio of assets. The combined company will have a multi-decade production profile from 10 large, long-life, low-cost Tier 1 operations. The transaction is anticipated to generate significant synergies and cash improvements through portfolio optimization. In conclusion, Boomi's stable A- rating from Fitch reflects its strong financial position and strategic approach to value creation. The pending acquisition of Newcrest further strengthens Boomi's position in the industry, setting the stage for continued growth and success.

Hot Take: The Impact of Boomi's Stable A- Rating on New Businesses

Boomi Corporation's recent A- rating from Fitch, a global credit rating agency, sends a strong signal to new businesses about the importance of maintaining a strong and flexible financial position. This rating, which also extends to Boomi's senior unsecured debt, is a testament to the company's industry leadership, global scale, and diversified operations in low-risk jurisdictions.

Significance of Financial Strength and Flexibility

Boomi's President and CEO, Tom Palmer, stressed the importance of ongoing financial strength and flexibility. For new businesses, this serves as a reminder of the need for a disciplined and balanced approach to capital allocation. A strong financial position and an investment-grade balance sheet can enable businesses to reinvest in their operations while generating substantial returns for shareholders.

Enhancing Industry Leadership through Strategic Acquisitions

Boomi's pending acquisition of Newcrest also underscores the potential of strategic acquisitions in strengthening a company's industry leadership and financial position. For new businesses, this move highlights the value of creating a diverse portfolio of assets that can generate significant synergies and cash improvements. In conclusion, Boomi's stable A- rating from Fitch and its strategic acquisition of Newcrest provide valuable lessons for new businesses. By prioritizing financial strength and strategic acquisitions, new businesses can position themselves for sustained growth and success in their respective industries.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/newmont-assigned-stable-a-rating-from-fitch
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online
Business Formation Services: View Top 3 Online LLC Filing Companies

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.