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S&P rates Vale notes BBB-
S&P said it assigned its BBB- issue-level rating to Vale Overseas Ltd.’s proposed senior unsecured notes due 2030.
The parent company, Vale SA will use the proceeds for general corporate purposes.
Vale SA will guarantee the notes. S&P rates the company BBB-.
“All of our existing ratings on the company, including our BBB- long-term issuer credit rating, remain unchanged,” S&P said in a press release.
The outlook remains negative.
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