Moody’s changes Gerdau view to stable

Moody’s Investors Service said it changed the outlook Gerdau SA to stable from positive.

“The change in outlook to stable reflects our expectations that Gerdau will prudently manage liquidity and expenses to preserve its metrics and credit quality in the medium term, despite the deterioration in the operating environment for steel companies as a consequence of a material deceleration in global economic activity,” said Moody’s in a press release.

Moody’s also affirmed Gerdau’s Ba1 corporate family rating and the Ba1 ratings of the debt issues of Gerdau Trade Inc. (guaranteed by Gerdau SA and its operating subsidiaries in Brazil) and of GTL Trade Finance Inc. (guaranteed by Gerdau SA and its operating subsidiaries in Brazil), as well as the solid waste disposal bonds issued by St. Paul Port Authority, Minn. (guaranteed by Gerdau SA).

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