Fitch upgrades Rio Tinto to A

Fitch Ratings said it upgraded Rio Tinto plc/Rio Tinto Ltd.’s long-term issuer default rating and senior unsecured debt instrument rating to A from A-.

The outlook is stable.

Fitch said the upgrade reflects material financial flexibility gained through increased cash flow generation and asset disposals in a supportive economic environment.

“Management is pursuing a value-over-volume strategy and we expect earnings growth to mainly come from productivity improvements, technological innovation, cost control and development projects from Rio Tinto's own pipeline,” the agency said in a news release.

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