Fitch Downgrades Vale to 'BBB-', Places on Rating Watch Negative
28 JAN 2019 03:49 PM ET
Fitch Ratings-Chicago-28 January 2019: Fitch Ratings has downgraded the Foreign Currency (FC) and Local Currency (LC) Issuer Default Ratings (IDR) of Vale S.A. to 'BBB-' from 'BBB+' as well as it unsecured bonds. All of these ratings, as well as the company's 'AAA(bra)' National Scale ratings, have been placed on Rating Watch Negative. These actions follow the collapse of the company's tailings dam at it Feijao mine on Friday.