S&P upgrades FMG credit rating

Rating agency lifts miner's rating on improved production, cost-cutting and risk reduction

Standard & Poor's has upgraded its credit rating of Fortescue Metals Group (FMG) and given the miner a positive outlook.

In a statement, the ratings agency said it had lifted the miner's long-term corporate credit rating from BB to BB- with, as well as raising its senior secured debt rating to BBB- from BB and its senior unsecured debt rating to BB- from B .

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