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S&P upgrades Glencore
S&P said it raised its long-term issuer credit rating on Glencore plc and its related entities to BBB+ from BBB.
The outlook is stable.
At the same time, the agency affirmed the A-2 short-term rating on Glencore.
S&P also raised to BBB+ from BBB the issue rating on the senior unsecured debt issued by Glencore Funding LLC. and other issuing entities.
“The upgrade reflects the greater financial prudence and resilience that Glencore has demonstrated, in line with its financial framework,” the agency said in a news release.
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