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BHP Billiton credit rating cut

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Ratings agency Standard & Poor's has downgraded BHP's credit rating from A-plus to A to reflect changes forecast for commodity prices. In a statement, Standard & Poor's said the decision reflected "very challenging market conditions and increased demand uncertainty over the coming years. The oversupply of crude oil in the market results in very weak oil and gas prices, which we now believe will last over the foreseeable future, putting further pressure on its balance sheet." S&P has also placed BHP on "credit watch with negative implications", and has signalled the miner's rating could be taken a notch lower after it releases its earnings on February 23. BHP maintains an A-plus credit rating at Fitch Ratings and an "A1" assessments at Moody's, which has the miner on review for a downgrade. (VIEW LINK)


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