S&P changes Anglo American view

S&P said it revised its outlook on Anglo American plc to positive from stable and affirmed the long- and short-term issuer credit ratings at BBB-/A-3 and the long-term South Africa national scale rating at zaAAA/zaA-1+.

At the same time, the agency affirmed the BBB- ratings on Anglo American's revolving credit facility and unsecured notes.

S&P said the outlook revision follows Anglo American's robust results for 2017 and disciplined execution of its financial policy.

“We believe Anglo American's new financial policy will help it build greater resilience to future industry downturns,” the agency said in a news release.

“The company's performance in 2017 was bolstered by supportive prices across its portfolio, particularly iron ore, copper and hard coking coal.”

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