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Freeport-McMoRan Copper & Gold Inc. Aug 11 Product Image

Freeport-McMoRan Copper & Gold Inc. Aug 11

  • ID: 1858187
  • August 2011
  • Standard & Poors

Good cost position; Leading market position as the second-largest copper producer in the world; and Significant reserve base with good diversification Political and legal risks of operating in Indonesia; Cyclical industry with volatile end-product prices; and Mature and high-cost U.S. operations. The ratings on Phoenix, Ariz.-based Freeport-McMoRan Copper & Gold Inc. reflect Standard & Poor's Ratings Services' expectation that copper and gold prices will likely remain high enough over the next couple of years to support Freeport's financial metrics at levels consistent with a modest financial risk profile. In addition, we expect that the company will continue to maintain a relatively conservative and balanced financial policy, which should help mitigate the country risk for its Indonesian operations and the commodity...

Companies mentioned in this report are: Freeport-McMoRan Copper & Gold Inc.,Phelps Dodge Corp.,Cyprus Amax Minerals Co.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Freeport-McMoRan Copper & Gold Inc.,Phelps Dodge Corp.,Cyprus Amax Minerals Co.

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