Rio Tinto Plc & Rio Tinto Ltd.: Rating Report

DBRS Limited (DBRS Morningstar) upgraded the Issuer Rating on Rio Tinto plc & Rio Tinto Ltd. (Rio or the Company) to “A” from A (low) and maintained the trend at Stable. The upgrade is supported by the Company’s robust credit metrics because of strong commodity prices (particularly iron ore prices), the repayment of EUR 401.7 million in debt that matured in May 2020, and the strength of the Company’s business risk profile, based on Rio’s size and long-life, low-cost operations.