S&P ups Glencore

Standard & Poor's said it raised the long- and short-term corporate credit ratings on Glencore International AG to BBB/A-2 from BBB-/A-3 and its senior unsecured debt rating to BBB from BBB-.

The outlook is positive.

According to the agency, the upgrade follows its review of Glencore's operating performance, strategy and risk management and financial policies. It reflects Glencore's continued robust operational performance both from its industrial production and its trading segments.

The upgrade also considers greater comfort gained by S&P on management's ability and intention to manage its increasingly sizable fixed obligations to employees, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.