Fitch Lifts Anglo American's Outlook to Stable Ahead of Teck Merger

12:48 AM EDT, 09/10/2026 (MT Newswires) -- Fitch Ratings on Wednesday affirmed its long-term issuer default rating on Anglo American (AAL.L, AGL.JO) at BBB+ and revised the outlook to stable from negative. The outlook revision reflects Fitch's expectation that strong operational performance and higher copper prices will help reduce the mining group's leverage. It also factors in Anglo American's proposed merger with Canada's Teck Resources, progress on the sale of its coal assets, and advances in the planned sale of De Beers. The rating is supported by Anglo American's strong first-half earnings, continued progress on asset disposals, and the improved scale positions expected for the combined group following completion of the Teck merger, which is anticipated in the first quarter of 2027.