On May 20, 2003, Standard&Poor's Ratings Services assigned its 'A-' senior unsecured debt rating to U.K.-based mining group Anglo American PLC's (Anglo) proposed $2 billion euro MTN program. At the same time, Standard&Poor's affirmed its 'A-/A-2' corporate credit ratings on Anglo. The outlook is stable. The announcement of merger talks between AngloGold Ltd., a 51% Anglo subsidiary, and Ashanti Goldfields Co. Ltd. of Ghana, has not affected the ratings on Anglo. Should the merger take place, Anglo would see its stake fall to less than its controlling stake of 51%, but the group would retain a strong influence on the merged company's dividend policy. The ratings on Anglo reflect its above-average business profile as a global
