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Bulletin: BHP Billiton Ltd. Ratings Are Unaffected By Half-Year Results Feb 12
Standard & Poors, Feb 2012
Abstract
MELBOURNE (Standard & Poor's) Feb. 8, 2012--Standard & Poor's Ratings Services said today that its ratings on BHP Billiton Ltd. (A+/Stable/A-1) remain unchanged following BHP Billiton's announcement of its financial results for the half-year ended Dec. 31, 2011. We consider the results to be in line with our expectations. In our view, the group's diversified asset portfolio and low cost operations helped deliver strong financial results, despite higher costs and lower production volume for some of BHP Billiton's products. Underlying EBIT margins remained at more than 40%. In addition, free operating cash flow was strong at about US$3.9 billion, despite significant capital expenditure for the half year. However, the ratio of funds from operations (FFO) to adjusted debt dropped to...
Companies mentioned in this report are: BHP Billiton Ltd.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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