S&P: BHP Billiton notes A+

Standard & Poor's said it assigned A+ long-term credit ratings to BHP Billiton Finance (USA) Ltd.'s $1 billion senior notes due 2014, $1 billion senior notes due 2015, $1.25 billion senior notes due 2017, $1 billion senior notes due 2022 and $1 billion senior notes due 2042.

These notes will be guaranteed by BHP Billiton Ltd. and BHP Billiton plc and will be used for debt refinancing, S&P said.

The ratings reflect the company's excellent market position, substantial portfolio diversification, low-cost operations, conservative financial policies and solid project pipeline, the agency said.

Partly offsetting these strengths are the company's exposure to volatile commodity prices and a measured exposure to higher-risk emerging markets, S&P said.

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