'Risk appetite' fears spur Glencore ratings cut

Nov 30, 2004 | 05:44 AM |

Standard & Poor's Ratings Services has lowered Glencore's long-term corporate credit and bank loan ratings because of "risk appetite concerns."

The Zug, Switzerland,-based company has been cut to BBB- from BBB. New York-based S&P simultaneously lowered its short-term corporate credit rating to A-3 from A-2. With Glencore's outlook now stable, the ratings were removed from S&P's CreditWatch, where they were placed Oct. 20.....

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