5th Feb 2016 06:33
LONDON (Alliance News) - Standard & Poor's on Thursday downgraded Glencore?s debt to one notch above junk.
S&P now rates Glencore triple B minus, from triple B previously, though its outlook has been moved to Stable as a result from Negative previously.
The ratings agency cited the "challenging outlook" for the mining industry, according to the Financial Times, as well as increasing uncertainty about demand from China.
http://www.ft.com/cms/s/0/e0cdb4cc-cb54-11e5-be0b-b7ece4e953a0.html#axzz3zGvRKJpR
By Samuel Agini; [email protected]; @samuelagini
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