New York, February 25, 2016 -- Moody's Investors Service has downgraded to Ba1 from Baa3 the ratings of the notes issued by Fibria Overseas Finance Ltd and guaranteed by Fibria Celulose S.A.. At the same time, Moody's America Latina has withdrawn Fibria Celulose S.A. ("Fibria")'s issuer rating and assigned a Ba1 global scale and Aa1.br national scale corporate family rating. The outlook for all ratings is negative.

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