‘SOLID A’ RATING A BIG ASK
‘SOLID A’ RATING A BIG ASK: The ‘solid A’ credit rating of BHP Billiton could still come under pressure from a possible 7% fall in copper, oil and iron-ore during the company’s 2017 financial year, say Liberum mining analysts, who calculate that BHP’s funds from operations and net debt may not pass ‘solid A rating’ muster. Seen walking through the security barriers at the company’s Melbourne headquarters, BHP Billiton CEO Andrew McKenzie last week smashed another one of the offerings that the world’s biggest mining company formerly went all out to protect – the progressive dividend. The dividend payout was lowered for the first time in 15 years in order to protect the very credit rating that Liberum analysts warn may come under pressure next.
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