Rio Tinto is a leading international mining group in which two companies, Rio Tinto plc and Rio Tinto Limited are combined in a dual listed companies (DLC) structure. Rio Tinto plc and Rio Tinto Limited and their respective groups operate together as a single economic enterprise.
Following the approval of the DLC merger, Rio Tinto plc and Rio Tinto Limited entered into a DLC merger sharing agreement pursuant to which each company agreed:
- to ensure that the businesses of Rio Tinto plc and Rio Tinto Limited are managed on a unified basis
- to ensure that the boards of directors of each company comprise the same individuals
- to give effect to certain arrangements designed to provide shareholders of each company with a common economic interest in the Rio Tinto Group
In addition, as part of the DLC structure, each company entered into a deed poll guarantee in favour of certain creditors of the other company and the obligations of other persons which are guaranteed by the other company subject to certain limited exceptions.
The Rio Tinto Group has a contractual relationship with both Moody's Investor Services and Standard & Poor's for the provision of rating information. Management of the Group meets these agencies at least annually and shares with them the Group's latest financial projections and business plan.
Both Rio Tinto plc and Rio Tinto Limited continue to enjoy investment grade ratings.
The following table shows Rio Tinto's current credit ratings.
||Long term rating & outlook
||Short term rating
|Moody's Investor Services
|Standard & Poor's