BHP credit rating affirmed by S&P

BHP Billiton has had its ‘A’ credit rating affirmed by Standard & Poor’s after bowing to market pressure and changing its dividend policy. The statement by S&P referred directly to the change in dividend policy and the additional financial flexibility the company now had. The ‘progressive dividend’ policy that BHP had previously adhered to has now been abandoned in favour of a policy that will pay out at least half of its operating profit.