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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.