S&P: Rio Tinto outlook positive

Standard & Poor's said it revised the outlook on Rio Tinto plc and Rio Tinto Ltd. to positive from stable and affirmed the BBB+ long-term and A-2 short-term corporate credit and debt ratings.

"The outlook revision reflects our opinion that Rio Tinto's credit metrics could improve over the next 12-18 months to be commensurate with a higher rating," S&P analyst Alex Herbert said in a statement.

This is supported by a rebound in metals and mineral prices and lower debt, and comes despite the group's plans to increase capital expenditure and dividends beginning 2010, according to the agency.

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