DBRS Releases Report on Agnico-Eagle Mines Limited

DBRS has today released a report providing further details on the recent confirmation of the Issuer Rating of Agnico-Eagle Mines Limited (Agnico or the Company) at BBB (low).

Agnico’s rating is underpinned by the strength of its LaRonde mine, which is a long-lived, low-cost, internationally competitive gold producer. In addition, the Company has five other gold mining operations, although its Goldex underground mine was forced to suspend operations (perhaps permanently) in Q4 2011 following the detection of serious rock subsidence and water inflow problems.

DBRS believes that the Company has strong credit metrics and solid liquidity, which will assist it in dealing with the issues at Goldex without unduly interfering with Agnico’s other operating and development plans.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Mining Industry, which can be found on our website under Methodologies.

To obtain a copy of the report, or the February 28, 2012, press release, please click on the links below or contact us at info@dbrs.com.