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Prospect News home > News index > List of issuers G > Headlines for Gerdau Ameristeel Corp. > News item |
S&P changes Gerdau to stable
S&P said it revised the outlooks on Gerdau SA and Gerdau Ameristeel Corp. to stable from negative and affirmed their BBB- corporate credit ratings.
The agency also affirmed the brAAA Brazil national scale ratings on Gerdau, with a stable outlook.
S&P said it rates all debt ratings at the same level as the corporate rating.
The agency said the revision is a result of Gerdau's efforts to sell non-core assets, which enabled it to deleverage to below 3 times, and S&P expects it to continue to strengthen its cushion against the volatility of the steel industry.
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