The ratings on U.K.-based mining group Anglo American PLC reflect its strong business risk profile as the world's second-largest diversified metals and mining group and its modest financial risk profile. Anglo benefits from very strong market positions, including platinum, diamonds, and coal. These strengths are partly offset, however, by the inherently capital-intensive, cyclical, and volatile nature of the industry; by Anglo's large minority shareholdings in some businesses; and by its exposure to South Africa. Management is implementing an updated business strategy to refocus the group on controlled mining operations and simplify its corporate structure. Standard&Poor's Ratings Services sees this as positive for both the group's business risk and financial risk profiles. Anglo's key plans include the progressive sale
