LONDON (Standard&Poor's) Feb. 20, 2008--Standard&Poor's Ratings Services said today it lowered to 'A-/A-2' from 'A/A-1' its long-term and short-term corporate credit ratings on global diversified mining group Anglo American PLC (Anglo). The outlook is stable. At the same time, Standard&Poor's lowered the long-term South Africa national scale debt rating on the medium-term note program issued by Anglo American S.A. Finance Ltd. and guaranteed by Anglo to 'zaAA+' from 'zaAAA'. The short-term South Africa national scale rating was affirmed at 'zaA-1'. "The downgrade reflects our expectation that the ratio of funds from operations to adjusted debt will fall markedly below the 50% ratio guidance for the ratings," said Standard&Poor's credit analyst Alex Herbert.
