S&P cuts Glencore's credit rating, outlook stable

(Reuters) - Standard & Poor's downgraded commodities trader and miner Glencore's credit rating on Thursday, citing a slump in commodities prices and uncertainty about metals demand. S&P cut Glencore's credit ratings to BBB-/A-3 from BBB/A-2, with a stable outlook. "The downgrade reflects both our view of the material challenges the mining industry faces, with increased uncertainty about future operating performance in 2016 and 2017," S&P said in a statement.