S&P affirms Gerdau, Gerdau Ameristeel

Standard & Poor’s said it affirmed its BBB- global scale and brAAA Brazil national scale ratings on Gerdau SA. S&P is also affirming the BBB- rating on Gerdau Ameristeel Corp., Gerdau’s North American subsidiary.

The outlooks on all the ratings are stable.

“The ratings on Gerdau continue to reflect its operating efficiency in Brazil thanks to its efficient network to procure scrap at attractive costs, low-cost production facilities, and dominant position in the Brazilian long steel market, which shields domestic premiums over time,” said S&P credit analyst Marcus Fernandes in a news release.

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