Rio Tinto Plc & Rio Tinto Ltd.: Rating Report
DBRS Limited (DBRS Morningstar) upgraded the Issuer Rating on Rio Tinto plc & Rio Tinto Ltd. (Rio or the Company) to “A” from A (low) and maintained the trend at Stable. The upgrade is supported by the Company’s robust credit metrics because of strong commodity prices (particularly iron ore prices), the repayment of EUR 401.7 million in debt that matured in May 2020, and the strength of the Company’s business risk profile, based on Rio’s size and long-life, low-cost operations.Rio Tinto is a mining group based in the United Kingdom and Australia. Co. is engaged in the business of finding, mining and processing mineral resources. Co.'s major products are iron ore, aluminium, copper, diamonds, coal, uranium, gold and industrial minerals (borax, titanium dioxide and salt). Co.'s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa. Co.'s operations comprise four principal product groups - Iron Ore, Aluminium, Copper and Diamonds, and Energy & Minerals.
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