Deals
Glencore Credit Rating May Remain BBB at S&P After Xstrata Deal
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Glencore International Plc, seeking a $33 billion takeover of Xstrata Plc by the end of the year, may retain its credit rating at Standard & Poor’s after completing the deal to create the fourth-biggest miner.
The credit quality of the combined group, to be named Glencore Xstrata Plc, is in line with the current BBB rating, “reflecting the group’s strong business risk profile and significant financial risk profile,” S&P said today in a statement.