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30.10.2015 22:28:00
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Usinas Siderurgicas de Minas Gerais S.A. -- Moody's downgrades Usiminas to B2; places the ratings on review for further downgrade
Sao Paulo, October 30, 2015 -- Moody's América Latina has today downgraded Usinas Siderúrgicas de Minas Gerais S.A. ("Usiminas") corporate family ratings to B2 from Ba3 (global scale) and to Ba2.br from A2.br (national scale). At the same time, Moody's placed the ratings on review for further downgrade. The B2/Ba2.br rating level has historically been associated with default frequencies of 3.4% and 13.9% over 1- year and 3-year investment horizons, respectively.
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