Moody upgrades13 May 2019 20:04
May 13, 2019 12:51 pm by Neil Hume in London
Moody’s has upgraded Glencore because of its increased resilience to volatile commodity markets but said the miner’s rating was likely to remain capped because of environmental and corporate governance concerns.
Glencore is the world’s biggest producer of seaborne thermal coal, which is burnt in power stations to generate electricity, and operates in some of the world’s most challenging jurisdictions, including the Democratic Republic of Congo and Zambia.
This sets the company apart from its peers, which include BHP and Rio Tinto