Anglo Cut to Junk for Third Time This Week as S&P Downgrades
- Moody's, Fitch lowered Anglo to junk earlier this week
- Anglo is selling mines including coal and nickel to cut debt
Anglo American's Cutifani Says Company Is in Good Shape
This article is for subscribers only.
Anglo American Plc’s credit rating was cut to junk by Standard & Poor’s, following similar downgrades by Moody’s Investors Service and Fitch Ratings this week, amid questions about the miner’s ability to sell assets.
The company’s rating was reduced to BB from BBB- with a stable outlook, S&P said in a statement Thursday. Moody’s cut Anglo to Ba3, and Fitch lowered the rating to BB+ earlier in the week. The shares slid 4.6 percent to 446.35 pence as of 2:25 p.m. in London.