CreditSights keeps positive outlooks for Glencore, Rio Tinto beyond potential merger
With mining major Glencore having confirmed it is in talks with fellow major miner Rio Tinto to effect a merger that could create the world’s largest mining company at a combined market value of $207-billion, market research firm CreditSights maintains its “outperform” rating for Glencore. In turn, the firm maintains its “market perform” expectation for Rio Tinto, meaning their bonds or credit will deliver excess returns roughly in line with their sector or peer group.
With mining major Glencore having confirmed it is in talks with fellow major miner Rio Tinto to effect a merger that could create the world’s largest mining company at a combined market value of $207-billion, market research firm CreditSights maintains its “outperform” rating for Glencore.
In turn, the firm maintains its “market perform” expectation for Rio Tinto, meaning their bonds or credit will deliver excess returns roughly in line with their sector or peer group.
What's Your Reaction?
