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Miner Xstrata 'BBB+' Rating Affirmed On News Of Merger With Global Commodities Trader And Miner Glencore; Outlook Stable Feb 12
Standard & Poors, February 2012
Global commodities trader and mining company Glencore International PLC (Glencore International AG's holding company) has announced a merger with U.K. mining company Xstrata PLC in an all-share deal. We believe the enlarged company will have a "strong" business risk profile and an "intermediate" financial risk profile. We are affirming our 'BBB+' long-term rating on Xstrata. The stable outlook reflects our expectation that the rating on the enlarged company will be in line with the current rating on Xstrata. PARIS (Standard & Poor's) Feb. 8, 2012--Standard & Poor's Ratings Services said today it affirmed its 'BBB+' long-term corporate credit ratings on U.K.-based mining company Xstrata PLC and its subsidiary Xstrata Canada Corp. (formerly Falconbridge Inc.) following the announcement of an all-share...
Companies mentioned in this report are: Xstrata PLC
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.