DBRS confirms Vale ratings

DBRS said it confirmed the issuer rating and senior unsecured debt rating of Vale SA as well as the senior unsecured debt rating of Vale Overseas Ltd. and the all series debentures & notes rating of Vale Canada Ltd. at BBB (low) with stable trends.

The confirmations are the result of Vale’s business and financial risk profiles remaining strong for the rating, considering the Brumadinho tailings dam failure on Jan. 25, 2019, and management’s robust and comprehensive response to the failure, DBRS said in a news release.

“The impact of the Brumadinho events has been essentially neutral with respect to Vale’s key credit metrics for the last 12 months ending March 31, 2019, which remain in the BBB (high) range,” DBRS said.

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