Ratings agency Standard and Poor's has revised its outlook for mining giant Rio Tinto to positive from stable to reflect the company's stronger capital structure and increased price assumptions for some commodities.
S&P on Wednesday affirmed its A-/A-1 corporate credit ratings on Rio.
The agency said the fact that Rio Tinto had established a trend of building increased headroom for the current rating, plus its supportive financial policy and the lower volatility stemming from its low-cost iron ore business, could lead to an upgrade within 12 to 18 months.
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