Glencore can rely on rating upgrade
Improving business prospects and balance sheet, as well as a moderate financial policy commitment will enhance Glencore rankings next year, notes the analyst of UniCredit Yana Arndt. She exhibited recommendation "above the market" of Glencore bonds, with additional support in its opinion, may have a redemption of bonds by the European Central Bank. Belgian central bank in the framework of the corporate bond buyback program has already acquired Glencore paper at the rate of 2.75% and maturing in 2021, as well as bonds with a rate of 1.625% and maturing in 2022 and a tranche with a rate of 1.875% and maturing in 2023. Glencore shares fell in London trading up 3% to 2.75 pounds.