Anglo Cut to Junk by Another Firm as Mine Sales Questioned
- Fitch downgrade follows similar move by Moody's this week
- Agency says difficult to sell assets in `buyers' market'
Fitch Follows Moody's, Downgrades Anglo American
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Anglo American Plc’s credit assessment was cut to junk by Fitch Ratings, following a similar downgrade by Moody’s Investors Service this week, as the ratings company questioned the miner’s ability to sell assets in a “buyers’ market.”
The company’s rating was reduced to BB+ with a negative outlook from BBB-, Fitch said in a statement Wednesday. Moody’s cut Anglo to Ba3 on Monday, while Standard & Poor’s has Anglo at BBB-, its lowest investment grade.