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Fitch: No change for Vale
Fitch Ratings said the purchase agreement with Bunge Fertilizantes SA and Bunge Brasil Holdings BV will not impact Vale SA's issuer default ratings of BBB and national scale rating of AAA(bra).
By the terms of the agreement, Vale will pay $1.65 billion for 100% of Bunge Participacoes e Investimentos SA and $2.15 billion for a 42.3% equity stake in Fertilizantes Fosfatados SA.
Fitch said it already considered an expectation that Vale would be buying mining companies in the near term as it sought to diversify its mining portfolio.
The agency said it anticipates that Vale will continue to seek growth through acquisitions, as well as the development of its existing mining assets.
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