...Fitch Ratings has upgraded Australia-based Mineral Resources Limited's (MinRes) Long-Term Issuer Default Rating (IDR) to 'BB' from 'BB- '. The Outlook is Stable. The rating upgrade reflects MinRes's expanding operations and significant deleveraging. EBITDA net leverage improved to 1.8x in the financial year ended June 2026 (FY26), from 7.7x in FY25. We expect leverage to remain well below 3.0x under Fitch's commodity-price assumptions. The upgrade also considers progress in rebuilding its corporate-governance framework, which has alleviated pressure on the ratings. The Stable Outlook reflects our expectation that MinRes will maintain disciplined capital allocation while gradually resuming its growth plans following deleveraging. This should support a strong balance sheet and leverage metrics commensurate with the rating....
