Moody's changes Glencore view to stable

Moody's Investors Service said it changed Glencore plc’s outlook to stable from negative and affirmed the Baa1 long term issuer and senior unsecured instrument ratings.

"Changing the outlook on Glencore's ratings to stable reflects the fast recovery from the Covid-19 related deterioration of the company's earnings which impacted the financial profile in H1 2020. Glencore is now solidly positioned in the Baa1 rating category, and the outlook change also reflects our expectation that the company will retain strong financial flexibility," said Sven Reinke, a Moody's senior vice president and lead analyst for Glencore, in a press release.

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