Fitch ups Brazilian corporates

Fitch Ratings said it has revised the rating outlook of the long-term foreign currency rating of several Brazilian corporates to positive from stable.

These actions follow the recent change in the outlook to positive from stable of the BB- foreign currency rating of the Federative Republic of Brazil. The Brazilian corporate foreign currency ratings continue to be linked to the BB- foreign currency rating of the sovereign, Fitch said.

The revision reflects the country's favorable trends in the balance of payments and external debt dynamics and substantial progress in moderating inflationary pressures, holding out the prospect of lower real interest rates and underpinning future growth prospects, Fitch said.

Ratings changes include the following corporates:

* Alcoa Aluminio SA's foreign currency BB+, outlook positive;

* Aracruz Celulose SA's foreign currency BB-, outlook positive;

* Braskem SA's foreign currency: BB-, outlook positive;

* Braskem International Ltd. foreign currency BB-, outlook positive;

* Companhia de Bebidas das Americas SA (Ambev)'s foreign currency BB+, outlook positive;

* Companhia Petrolifera Marlim's foreign currency BB-, outlook positive;

* Companhia Siderurgica de Turbarao SA's foreign currency BB, outlook positive;

* CST Overseas' foreign currency BB, outlook positive;

* Companhia Siderurgica Nacional SA's foreign currency BB-, outlook positive;

* Companhia Vale do Rio Doce's foreign currency BB, outlook positive;

* Gerdau SA's foreign currency BB-, outlook positive;

* Gerdau Acominas SA's foreign currency BB-, outlook positive;

* MRS Logistica SA's foreign currency BB-, outlook positive;

* Petroleo Brasileiro SA's foreign currency BB-, outlook positive;

* Ripasa Celulose e Papel SA's foreign currency BB-, outlook positive;

* Samarco Mineracao SA's foreign currency BB-, outlook positive;

* Tele Norte Leste Participacoes SA's foreign currency BB-, outlook positive;

* Telemar Norte Leste SA's foreign currency BB-, outlook positive;

* Votorantim Participacoes SA's foreign currency BB-, outlook positive.

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