BHP Billiton Limited
(ASX:BHP) has had its credit rating cut two levels by Moody’s Investors Service.
The rating went to A3 from A1 and follows a cut from Standard & Poor’s last month.
The ratings company said it views the current weak commodity prices as a fundamental shift in the operating environment beyond a cyclical downturn representing pricing pressure and weaker fundamentals for the commodities BHP produces.
BHP continues to weather the downturn by cutting unprofitable parts of the business and selling non-core exploration assets to reduce debt.
BHP Billiton reported a net profit of $7.84 billion for the half year to end December 2015.
