LONDON (Standard&Poor's) Aug. 3, 2007--Standard&Poor's Ratings Services said today it affirmed its 'A/A-1' long- and short-term corporate credit ratings on global, diversified mining group Anglo American PLC (Anglo) following the group's announcement of a further $4 billion buyback program and strong results for the six months to June 30, 2007. The outlook is stable. "The affirmation reflects Anglo's continued strong financial risk profile," said Standard&Poor's credit analyst Alex Herbert. "We do not regard the program as signaling a more aggressive financial policy, but rather a continuation of the group's existing practice of deploying surplus cash." This is more conservative than expensive, large-scale merger and acquisition activity. Although the cash could have been used to
