DBRS rates Vale Overseas notes BBB

DBRS said it has finalized its rating of BBB (high), with a stable trend, on Vale Overseas Ltd.'s $1.0 billion of 4.625% guaranteed notes due 2020 and its $750 million of 6.875% guaranteed notes due 2039.

The guaranteed notes issued by Vale Overseas are to be irrevocably and unconditionally guaranteed as to the full and punctual payment of principal, interest, additional amounts and all other amounts that may become due and payable in respect of the guaranteed notes by Vale SA, the agency said.

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