[miningmx.com] – ANGLO American, the diversified mining group, declined to comment on the latest credit ratings blow after Moody’s lowered its estimation of the UK-listed group’s credit assessment another notch to Baa2.
“We don’t normally comment on the rating agencies’ assessments,” Anglo American spokesman James Wyatt-Tilby told BDLive, an online publication.
Said Gianmarco Migliavacca, Moody’s lead analyst: “Our downgrade of Anglo American’s ratings to Baa2 reflects our expectation that the company will generate lower operational cash flow and require larger than previously anticipated debt funding, leading to a further deterioration in its cash flow coverage metrics and leverage ratio over the next 12-18 months”.
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