Mining group Anglo American has announced it will acquire an additional stake of up to 40% in its diamond subsidiary De Beers for as much as US$5.1 billion. We believe that the impact on the financial risk profile of Anglo American is likely to be largely offset by the expected sale of its 49% in Anglo American Sur S.A. to Chile's state-owned copper producer Codelco. As a result, we are affirming our 'BBB+/A-2' long- and short-term ratings on Anglo American. The stable outlook reflects our view that the company will likely maintain healthy credit metrics, on the expectation that both transactions go through. On Nov. 7, 2011, Standard&Poor's Ratings Services affirmed its 'BBB+' long-term and 'A-2' short-term corporate
