Credit Rating for Platinum Miners Dropped

Reuters reported ABSA Capital has lowered its credit rating for Anglo American (JSE:AAL) and other platinum miners.

As quoted in the market news:

ABSA analysts Caroline Learmonth and Ian Rossouw, who downgraded Anglo to “underweight” from “equal weight, said unbundling of the company’s platinum business would have put it at the top of the target list for the bigger competitors.

Platinum prices have fallen about 3 percent over the last month.

Click here to read the full Reuters report.