Goldman Sachs Downgrades Rio Tinto plc (RTP) to Sell

March 18, 2009 8:23 AM EDT
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Goldman Sachs downgrades Rio Tinto plc (NYSE: RTP) from Hold to Sell citing problematic debt and forecasted losses in the aluminum division for the next two years.

The firm also said there is risk Rio Tinto's deal with China's Chinalco (NYSE: ACH) isn't approved after Australian lawmakers moved to vote for an inquiry into last month's $19.5 billion funding deal amid growing criticism.

Separately, Rio Tinto named Jan du Plessis as chairman replacing Paul Skinner.

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