DBRS Assigns A (low) Rating with a Stable Trend to Rio Tinto $2.5 Billion Debt Issue

DBRS has today assigned a rating of A (low), with a Stable trend, to the issue by Rio Tinto Finance (USA) plc (RT Finance (USA) plc or the Company) of $500 million of 1.125% three-year notes due March 20, 2015; $500 million of 2.000% five-year notes due March 22, 2017; $1.0 billion of 3.500% ten-year notes due March 22, 2022; and $500 million of 4.750% thirty-year notes due March 22, 2042 (collectively, the RTF Notes). Full and unconditional guarantees of the principal, interest and any other additional amounts payable with respect to the RTF Notes are given by Rio Tinto Plc and Rio Tinto Limited (collectively, Rio Tinto). DBRS’s Issuer Rating of Rio Tinto is A (low), with a Stable trend.

RT Finance (USA) plc is a new issuer and a wholly owned finance subsidiary of Rio Tinto Plc. The RTF Notes are being issued under a prospectus supplement to the Company’s base prospectus dated March 16, 2012, and filed with the U.S. Securities and Exchange Commission (SEC). The proceeds from the RTF Notes issuance will be used for general corporate purposes of RT Finance (USA) plc or Rio Tinto.

The RTF Notes and guarantees are not secured by any of the Company’s or Rio Tinto’s respective property or assets and will rank equally with all other unsecured and unsubordinated indebtedness. Since Rio Tinto plc and Rio Tinto Limited are holding companies and currently conduct their operations through subsidiaries, payments on the guarantees are effectively subordinated to the other liabilities of those subsidiaries.

The RTF Notes will be governed by the laws of the State of New York and an application will be made to list the RTF Notes on the New York Stock Exchange.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Mining Industry, which can be found on our website under Methodologies.