[miningmx.com] – RADICAL restructuring announced by Anglo American this week may not be enough to save its investment grade rating, said Bloomberg News citing the comments of credit rating agency, Moody’s.
Moody’s cut London-based Anglo American to Baa3, the lowest investment grade, and placed it on review for a further downgrade, citing rising leverage amid plunging commodity prices, said the news wire.
The decision “reflects the exceptionally wide operating and financial review and high level of uncertainty about the future business profile of the company,” it said.
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