A successful acquisition of Sirius Minerals by diversified miner Anglo American could be accommodated within the latter’s current Baa2 rating with ratings agency Moody’s but would increase Anglo’s financial risk profile for a number of years, the agency said on Friday.
This, Moody’s explained in a statement, was driven by the material capital investment needed over the next few years to complete the Sirius polyhalite mining project, in North Yorkshire, in the UK.
Anglo and Sirius earlier this week confirmed that Anglo had made an offer to buy Sirius at 5.5p a share.