S&P removes credit watch negative on Rio Tinto on dividend changes
[SYDNEY] Standard & Poor's said on Monday it has removed the credit watch negative linked to Rio Tinto's ratings following the global miner's flexible dividend policy announcement.
S&P affirmed Rio Tinto's rating of A-minus but kept a negative outlook due to weakness in commodities.
The ratings agency said it could downgrade the miner in the next 18 months. It highlighted risks should the Chinese economy experience a worse-than-anticipated slowdown, leading to prolonged weaker demand for iron ore, aluminum, and copper.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns