Moody's lowers Anglo American SA Finance

Moody's Investors Service said it downgraded the senior unsecured national scale rating of Anglo American SA Finance Ltd., a subsidiary of Anglo American plc, to A2.za from A1.za, with a negative outlook.

Concurrently, Moody's downgraded the national scale rating on Anglo American SA Finance's domestic medium-term note program, which is guaranteed by Anglo American on a senior unsecured basis, to A2.za from A1.za.

The company's short-term national scale rating was affirmed at Prime-1.za (P-1.za).

Moody's said the action is closely tied to its recent decision to downgrade the senior unsecured ratings of Anglo American and its guaranteed subsidiaries, including Anglo American SA Finance, to Baa2 from Baa1, and to maintain a negative outlook on all its ratings.

The agency said it believes that the global Baa2 rating of Anglo American SA Finance maps to an A2.za rating on a local national scale rating base in South Africa.

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