Report
EUR 231.76 For Business Accounts Only

Vale S.A.: Update following upgrade to Ba2, positive outlook

CORPORATES CREDIT OPINION 21 March 2017 Update RATINGS Vale S.A. Domicile Rio de Janeiro, Brazil Long Term Rating Ba2 Type LT Corporate Family Ratings Outlook Positive Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Barbara Mattos, CFA 55-11-3043-7357
Underlying
Vale S.A. Pfd A

Provider
Moody's Investors Service
Moody's Investors Service

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