On April 18, the international credit rating agency Standard & Poor's (S&P) announced that it has raised its long-term corporate credit rating on Australian mining giant Rio Tinto to A- from BBB+. At the same time, it affirmed the A-2 short-term corporate credit rating. The outlook is now stable.
Prior to this upgrade, Rio Tinto's credit rating was assessed by S&P as BBB+ for long-term debt and A-2 for short-term debt, with a positive outlook.