Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+' - S&P Global Ratings’ Credit Research

Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+'

Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+' - S&P Global Ratings’ Credit Research
Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+'
Published May 18, 2011
2144 words — Published May 18, 2011
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Fortescue Metal Group's (Fortescue) financial profile is improving, due to a strong iron ore pricing environment and its steady state of production at the 40 mpta level. As a result, we have raised the corporate credit rating on Fortescue and associated senior unsecured debt ratings to 'B+' from 'B'. We also affirmed the recovery rating of its senior unsecured debt at '4'. The outlook is stable. We have also assigned our 'B+' ratings to Fortescue's proposed US$1 billion term loan B and US$500 million proposed revolving bank facility by Fortescue's funding arm, FMG Resources (August 2006) Pty Ltd. On May 18, 2011, Standard&Poor's Ratings Services raised its corporate credit rating and senior unsecured debt ratings on Fortescue to

  
Brief Excerpt:

RESEARCH Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+' Publication date: 18-May-2011 Primary Credit Analyst: May Zhong, Melbourne (61) 3-9631-2164; may_zhong@standardandpoors.c...

  
Report Type:

Research Update

Ticker
FMG@AU
Issuer
Fortescue Metals Group Ltd.
GICS
Steel (15104050)
Sector
Global Issuers
Country
Australia
Region
Pacific
Format:
HTML HTML
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+'" May 18, 2011. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Fortescue-Metals-Group-Ltd-Rating-Raised-To-B-With-Stable-Outlook-Proposed-New-Bank-Loans-Rated-B-867055>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Fortescue Metals Group Ltd. Rating Raised To 'B+' With Stable Outlook; Proposed New Bank Loans Rated 'B+' May 18, 2011. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Fortescue-Metals-Group-Ltd-Rating-Raised-To-B-With-Stable-Outlook-Proposed-New-Bank-Loans-Rated-B-867055>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.