On June 16, 2006, Standard&Poor's Ratings Services raised its long-term corporate credit and senior unsecured debt ratings on U.K.-based mining group Anglo American PLC to 'A' from 'A-'. This reflects the group's progressive implementation of its updated business strategy and its strengthened financial profile. At the same time, the short-term corporate credit rating was raised to 'A-1' from 'A-2'. The outlook is stable. Management is implementing an updated business strategy to refocus the group on controlled mining operations and simplify its corporate structure. We see this as having a positive impact both on the group's business risk and financial risk profiles. Anglo's key plans include the progressive sale of its stake in gold producer AngloGold Ashanti Ltd., a
