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Moody’s downgrades Glencore’s ratings, keeps stable outlook

Commodities trader Glencore’s credit rating was downgraded to one notch above junk status by Moody’s Investors Service on Friday which cited likely weak mining market conditions over the next two years.

Moody’s downgraded Glencore’s ratings by one notch to Baa3 from Baa2 and said the outlook was stable.