1st Feb 2016 17:36
LONDON (Alliance News) - BHP Billiton PLC late Monday said Standard & Poor's has lowered the company's credit rating to A from A+.
The FTSE 100-listed miner said the rating on its senior secured notes has been lowered to A from A+ and its subordinated notes to BBB+ from A-.
"BHP Billiton has also been placed on 'CreditWatch with negative implications' and Standard & Poor's has advised it aims to resolve the CreditWatch after the release of BHP Billiton's results for the half year ended December 31, 2015," said the miner.
BHP plans to release its first half results on February 23.
"BHP Billiton has the strongest credit rating in the sector and remains committed to maintaining its strong balance sheet through the cycle," BHP added.
BHP shares closed up 0.1% to 676.85 pence per share on Monday.
By Joshua Warner; [email protected]; @JoshAlliance
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