October 1, 2015 / 9:42 AM / 4 years ago

Glencore tells investors it is on track to reduce debt -Barclays

LONDON, Oct 1 (Reuters) - Commodities giant Glencore told investors it was on track to reduce its debt by $10 billion with two key deals to close at the end of this year and early next, analysts from Barclays said on Thursday.

Barclays, which organised the meeting, said it believed the company has managed to address many concerns, which in recent weeks have sent Glencore’s stock plummeting.

“Our credit colleagues believe the company can retain its credit rating, although the market clearly disagrees with this,” analysts from Barclays said. (Writing by Dmitry Zhdannikov)

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