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FMG updates

WESTERN Australia’s Fortescue Metals Group has scored an extra plus in its cost cutting drive after S&P upgraded its corporate credit rating, from BB to BB+.

Karma Barndon
FMG Nicola is greeted at Port Hedland.

FMG Nicola is greeted at Port Hedland.

In issuing the update S&P noted how Fortescue’s additional debt repayment had strengthened the company's resilience to iron ore price pressure and declared the company was at the lowest end of the seaborne...

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