Fitch affirms Rio Tinto

Fitch Ratings said it maintained Rio Tinto Plc and Rio Tinto Ltd.'s long-term issuer default and senior unsecured ratings at BBB+. The company's short-term issuer default rating is maintained at F2 while the outlook on the long-term issuer default rating remains negative.

This follows the company's plans to reduce its net debt by $10 billion by the end of 2009.

Fitch said it believes that the debt reduction measures, including capital expenditure scalebacks, capping of dividends and headcount reductions, are an appropriate reaction to the company's current position.

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