Moody's lowered its rating of BHP by two notches to an A3 rating, down from A1, and also placed a negative outlook on the company.
“The negative outlook reflects pricing pressure and weaker fundamentals for the commodities which BHP Billiton produces and Moody’s view that the firm’s credit metrics will remain at weak levels for an A3 for the next 12-18 months, before improving to more appropriate levels,” Moody's said.
BHP
