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S&P warns of imminent downgrade for several miners

04/13/2015 | 11:12am

SAO PAULO (Reuters) - Standard & Poor's warned on Monday it may soon downgrade several miners as it lowered its iron ore price estimates for the next couple of years.

S&P said in a statement it was placing on watch negative the credit ratings of Vale SA (>> Vale SA), Rio Tinto PLC (>> Rio Tinto plc), BHP Billiton Ltd (>> BHP Billiton plc), Anglo American PLC (>> Anglo American plc), CAP SA (>> Cap SA), Exxaro Resources (>> Exxaro Resources Limited), Fortescue Metals Group Ltd (>> Fortescue Metals Group Limited), and Eurasian Resources Group (ERG).

S&P said it expects to make its rating decisions over the next two to three weeks.

(Reporting by Walter Brandimarte; Editing by Chizu Nomiyama)

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