TEXT-S&P comments on Phelps Dodge


(Press release provided by Standard & Poor's) NEW YORK, July 25 - Standard & Poor's Ratings Services said today that Phelps Dodge Corp.'s (BBB-/Negative/A-3) second quarter earnings announcement will have no affect on its current ratings or outlook on the company. The key factors for maintaining the current ratings continue to be the degree and timing of economic recovery as well as copper price levels. However, another important factor will be the progress made in the company's ...

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