Moody’s changes Anglo American view

Moody’s Investors Service said it affirmed the Baa3 long term issuer rating of Anglo American plc and the group's Baa3 senior unsecured instrument and P-3 short term ratings.

The agency also affirmed Anglo American SA Finance Ltd.'s Aa1.za national scale ratings.

Moody's changed the outlook to positive from stable.

"Our decision to change the outlook to positive on Anglo's ratings reflects material operating profit growth in 2017 and in the first half of 2018, which together with continued conservative management of the balance sheet structure and leverage profile positions the company strongly in the Baa3 rating category,” Sven Reinke, Moody's senior vice president, said in a news release.

“The ratings could be upgraded if Anglo sustains the improved financial profile and continues to demonstrate prudent management of new growth investments."

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