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Tuesday 02 February 2016 by FIIG Research Company updates

Company updates - Asciano , BHP and Fortescue

This week's news: Asciano receives binding takeover proposal, BHP receives a credit rating downgraded and Fortescue posts another strong quarter

Asciano receives binding takeover proposal from Qube-led consortium

Further to Brookfield’s takeover offer, Asciano has received an alternative binding takeover proposal from a consortium led by Qube Holdings. Please click here to read more.

BHP credit rating downgraded by S&P

S&P has downgraded BHP’s corporate credit rating and associated bond ratings by one notch, and placed the miner on negative creditwatch, meaning further possible downgrades. Please click here to read more.

Fortescue well positioned to repurchase more bonds after quarterly report

Fortescue has posted another strong quarterly production report despite falling iron ore prices, highlighted by record low production costs for the company, an increase in cash position and reduction in net debt. With a strong cash position of US$2.3bn, the company is well positioned to undertake further bond buybacks. Please click here to read more.

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