The Globe and Mail reports in its Thursday edition that S&P Global Ratings has raised Barrick Gold's credit outlook. A Bloomberg dispatch to The Globe says Barrick's outlook was lifted to positive from stable, S&P said Wednesday, affirming its BBB- rating. Shares in Barrick have more than doubled in value this year after five consecutive annual declines, while its bonds have gained 38 per cent as bullion rallied 23 per cent. While prices have retreated this month, investors have flocked to bullion and the companies that mine it as central banks around the world increased economic stimulus to support growth amid low interest rates. Barrick shows the mining industry's push to expand and diversify as commodities surged, before grappling to sell assets and cut costs as a price downturn exposed high leverage. Barrick's debt, which peaked at $15.8-billion (U.S.) after it bought Equinox Minerals, was back at about $9-billion (U.S.) in the second quarter; the company hopes to be debt-free within a decade. "A continuing favorable gold price environment and improvement in Barrick's cost position should translate into free cash flow and debt repayment above our previous expectations," the S&P analysts wrote.