Company updates
BlueScope’s credit rating has been upgraded by Moody’s from Ba3 to Ba2 with a stable outlook. The company’s branded product base and cost cutting initiatives have offset the effects of a weakening macro environment for steel producers.
Company updates
Glencore has announced the sale of a 40% stake in its agricultural business for USD2.5bn, and further asset sales are being mooted. We continue to remain confident in the company’s ability to achieve its debt reduction target.