Fitch affirms BHP Billiton, Rio Tinto, Anglo American

Fitch Ratings said it affirmed the ratings of the three major diversified mining companies: BHP Billiton Plc/Ltd., Rio Tinto Plc/Ltd. and Anglo American plc.

Anglo American's long-term issuer default rating was affirmed at BBB+ and short-term issuer default rating at F2, along with its Anglo American Capital plc's senior unsecured rating affirmed at BBB+. Its outlook is stable.

BHP Billiton's long-term issuer default rating was affirmed at A+, senior unsecured rating at A+ and short-term issuer default rating at F1, along with BHP Billiton Finance (USA) Ltd.'s senior unsecured rating at A+ and BHP Billiton Finance Ltd.'s senior unsecured rating at A+. WMC Finance (USA) Ltd.'s senior unsecured rating also was affirmed at A+. Its outlook is stable.

Rio Tinto Plc/Ltd.'s long-term issuer default rating was affirmed at A-, senior unsecured rating at A- and short-term issuer default rating at F2, along with Rio Tinto Finance (USA) Ltd.'s senior unsecured rating at A- and Rio Tinto Alcan Inc.'s senior unsecured rating at A-. Its outlook is stable.

The affirmations follow an industry review, which included an analysis of forecast operational and financial profiles for each company over the next three to four years, Fitch said.

The agency said it expects general commodity prices to remain at historically favorable levels, driven by demand from China and other emerging markets.

Liquidity and capital markets access is strong for each company and does not represent a major differentiating factor, Fitch added.

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