Rio Tinto's dividend cut plan fails to stop Moody's downgrade

Sydney

RIO Tinto Group had its credit rating cut by Moody's Investors Service even after the miner disclosed plans to slash its dividend in response to plunging commodity prices.

The world's second-biggest metal producer had its credit score lowered one level to Baa1, Moody's third-lowest investment-grade rating, with a negative outlook.