S&P revises Rio Tinto to stable

S&P said it revised its outlook on Rio Tinto plc to stable from negative.

At the same time, the agency affirmed its A- long-term corporate credit rating on the company and raised the short-term rating to A-1 from A-2.

S&P said the outlook change indicates that in its view, Rio Tinto's supportive financial flexibility and some improvement in prices will allow the company to generate stronger positive DCF (free cash flow after capital expenditure [capex]) and dividends in 2016 and 2017, and maintain its credit metrics within the range the agency considers commensurate with our current ratings.

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