...The rating affirmation reflects BHP Group Limited/Plc's (BHP) large scale, strong business profile w ith balanced commodity exposure and leading cost positions, conservative financial profile and good operational performance compared w ith businesses across the mining sector. The reporting period to end-June 2019 (FY19) w as a good year w ith robust cash flow generation. BHP retained USD1.7 billion to reduce net debt and increase financial flexibility. The rating also takes into account BHP's transparent capital allocation process w ith a net debt target in the range of USD12 billion-USD17 billion (revised guidance based on the new standard for operating leases - IFRS 16 and inclusion of debt-related derivatives as part of debt)....
