S&P rates Votorantim Cimentos notes BBB

Standard & Poor's said it assigned a BBB rating to perpetual notes to be issued by Votorantim Cimentos SA. Its parent, Votorantim Participacoes SA and intermediate holding company, Votorantim Industrial SA, will unconditionally and irrevocably guarantee the notes.

The proceeds will be used pay down existing debt and for general corporate purposes.

The rating reflects the company's position as one of the strongest cash flow contributors to the group, S&P said.

It also demonstrates the overall credit profile of the parent company, as S&P said it doesn't differentiate the Votorantim Cimentos' credit quality from that of its parent, given its key strategic relevance.

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