{"id":1298,"date":"2007-10-12T17:01:13","date_gmt":"2007-10-12T21:01:13","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1298"},"modified":"2007-10-12T17:01:13","modified_gmt":"2007-10-12T21:01:13","slug":"falpra-falprb-falprh-upgraded-by-dbrs","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1298","title":{"rendered":"FAL.PR.A \/ FAL.PR.B \/ FAL.PR.H Upgraded by DBRS"},"content":{"rendered":"<p><a href=\"http:\/\/www.dbrs.com\">DBRS<\/a> has announced:<\/p>\n<blockquote><p>DBRS has today upgraded the ratings of Xstrata plc, Xstrata (Schweiz) AG, Xstrata Capital Corporation A.V.V., Falconbridge Limited, and Xstrata Finance (Canada) Limited (collectively Xstrata or the Company) to A (low). The rating action results from the Company\u2019s strengthening financial profile over the last twelve months, with Xstrata\u2019s financial profile now brought in line with its business profile (which was strengthened substantially last year with the Falconbridge, Cerrej\u00f3n and Tintaya acquisitions).<br \/>\n<strong>&#8230;<\/strong><br \/>\nDBRS expects high commodity prices (driven by strong market demand\/supply fundamentals) to allow the Company to continue generating strong cash flows from operations. Going forward, DBRS expects the Company to use its strong cash flows to finance its expansionary capex program, its acquisition program and possibly to continue to reduce its debt levels. The Company\u2019s credit metrics are expected to remain at current levels for the mid term.<\/p><\/blockquote>\n<p>Falconbridge Preferreds\u00a0continues to be rated P-2(low) by <a href=\"http:\/\/www.standardandpoors.com\">S&#038;P<\/a>.<\/p>\n<p>As previously reported, <a href=\"http:\/\/www.prefblog.com\/?p=968\">Falconbridge&#8217;s dividends are &#8220;eligible&#8221;<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBRS has announced: DBRS has today upgraded the ratings of Xstrata plc, Xstrata (Schweiz) AG, Xstrata Capital Corporation A.V.V., Falconbridge Limited, and Xstrata Finance (Canada) Limited (collectively Xstrata or the Company) to A (low). The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1298","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1298"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1298\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}