OREANDA-NEWS. May 21, 2014. Polyus Gold International Limited (LSE - PGIL, OTC (US) - PLZLY, “PGIL”, “Polyus Gold” or the “Company”), the largest gold producer in Russia, notes Standard&Poor's recent review which confirmed its ‘BB+’ long-term corporate credit rating on Polyus Gold. Their outlook on the Company's credit rating has been revised to Stable from Positive.

In addition, Standard&Poor's affirmed its ‘BB+’ issue rating on the Company’s USD 750 million senior unsecured notes.

According to Standard&Poor's, the credit rating confirmation reflects the Company's supportive credit metrics, material liquidity sources, management’s ongoing effort to offset cost pressures and the progress made in the development of our key investment projects, including Natalka.

In its review, Standard&Poor's concludes that the Company has sufficient liquidity sources to bridge 2014 and 2015 without taking extraordinary measures, even if the price of gold fell below USD 1,200 per ounce.

According to Standard&Poor's, the revision of the outlook to Stable reflects the strong liquidity position while also factors in the impact of the decision to re-sequence the construction schedule at Natalka, a downward change in the Standard&Poor’s gold price assumptions earlier this year and its recent downgrade of the Russian Federation (foreign currency) to ‘BBB-/Negative/--‘ from ‘BBB/A-2’.

Polyus Gold views the Standard&Poor’s decision as confirmation of the Company’s financial stability despite current macroeconomic volatility and political tumult. The Company continues to focus on efficiency improvements across its asset base and remains committed to a stringent financial discipline.