Glencore PLC Outlook Revised To Positive On Strengthening Financial Position; 'BBB-/A-3' Ratings Affirmed

We understand Glencore is likely to conclude major asset sales by year-end 2016. In combination with supportive 2016 operating performance and cash generation, these further disposals will result in a meaningful decrease in leverage, despite the still-volatile industry outlook. We are therefore revising the outlook on Glencore to positive from stable and affirming our 'BBB-/A-3' corporate credit ratings. The positive outlook reflects the potential for an upgrade if Glencore maintains stronger credit metrics in the context of uncertain market conditions and the reinstatement of shareholder distributions. LONDON (S&P Global Ratings) Sept. 29, 2016--S&P Global Ratings said today that it revised its outlook on global diversified mining and trading company Glencore PLC to positive from stable. At the same time, we

...+ We understand Glencore is likely to conclude major asset sales by year-end 2016. + In combination with supportive 2016 operating performance and cash generation, these further disposals will result in a meaningful decrease in leverage, despite the still-volatile industry outlook. + We are therefore revising the outlook on Glencore to positive from stable and affirming our '###-/A-3' corporate credit ratings. + The positive outlook reflects the potential for an upgrade if Glencore maintains stronger credit metrics in the context of uncertain market conditions and the reinstatement of shareholder distributions. LONDON (S&P Global Ratings) Sept. 29, 2016--S&P Global Ratings said today that it revised its outlook on global diversified mining and trading company Glencore PLC to positive from stable. At the same time, we affirmed the long- and short-term corporate credit ratings at '###-/A-3'. The outlook revision to positive reflects our view of the company's strengthening financial position...

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