Moody's may upgrade Rio Tinto

Moody's Investors Service said it placed on review for upgrade the A3 senior unsecured and P-2 short-term ratings on the Rio Tinto group.

The review results from the strengthening of Rio Tinto's metrics, attributable to its debt reduction in recent years under its liability management program, Moody's said.

The upgrade review also considers the reduction in costs from the group's focus on productivity and logistics, which helps to mitigate cost creep being seen in input costs.

A recovery in prices over 2017 and 2018 is also benefitting the company, Moody's said.

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