DBRS lowers Anglo American view to negative

DBRS said it changed the trend to negative from stable on the A (low) issuer rating of Anglo American plc.

The trend change reflects a number of challenges faced by the company, including heightened market and commodity risks in the mining sector, a major restructuring of its platinum business and the need to fund the completion of several major capital projects, DBRS said.

A further deterioration in the outlook for Anglo, unforeseen problems in the restructuring of its platinum unit or further material delays or cost overruns in its major development projects over the course of the next year can be expected to lead to a rating downgrade, the agency said.

But, Anglo continues to be one of the world's largest diversified mining houses, DBRS said.

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