Sydney, May 22, 2015 -- Moody's Investors Service has assigned a Baa1 issuer rating and a short-term issuer rating of P-2 to South32 Limited. At the same time, Moody's has also assigned a P-2 rating to the commercial paper program entered into by South32 Limited and South32 Treasury (USA) Limited (co-issuer, and wholly owned finance subsidiary). The outlook on South32 Limited's ratings is stable.

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