Mining giant BHP’s credit rating cut on low commodity prices: S&P

Mining giant BHP Billiton’s credit rating was cut by Standard & Poor’s on Tuesday as it is battered by plunging global commodity prices, with the agency warning of further downgrades.The decision comes as miners around the world are buffeted by an income slump, with the cost of key materials such as oil, iron ore, copper and aluminium at multi-year lows owing to a global economic slowdown, most painfully in key customer China.
Iron ore, Australia’s largest export, has seen