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Glencore Credit Rating Could Remain BBB At S&P After Xstrata Deal
Nov. 29, 2012 11:26AM PST
Base Metals Investing Glencore International Plc, seeking a $33 billion takeover of Xstrata Plc by the end of the year, may retain its credit rating at Standard & Poor’s after finishing the deal to create the fourth-biggest miner.
Glencore International Plc, seeking a $33 billion takeover of Xstrata Plc by the end of the year, may retain its credit rating at Standard & Poor’s after finishing the deal to create the fourth-biggest miner.
Highlights from market news:
– Glencore received European Union approval for its takeover of Xstrata last week
– Glencore is seeking to add Xstrata’s coal, nickel, zinc and copper operations to its cotton-to-crude-oil commodities empire
– S&P estimates the combined company’s earnings before interest, tax, depreciation and amortization this year to be $13 billion to $14 billion