Fitch affirms Gerdau

Fitch Ratings said it affirmed Gerdau SA's foreign-currency long-term issuer default rating at BBB-, local-currency long-term issuer default rating at BBB and national scale rating at AA+(bra).

The agency also said it affirmed Gerdau Holdings Inc.'s long-term issuer default rating at BBB-, 7% notes at BBB-, GTL Trade Finance Inc.'s long-term issuer default rating at BBB-and 7.25% notes at BBB- and Gerdau Trade Inc.'s 5.75% notes at BBB-.

Fitch also said it assigned a BBB- foreign-currency issuer default rating to Gerdau Trade.

The ratings are linked through the agency's parent-subsidiary rating criteria, the agency said.

The outlook is stable.

The ratings are supported by the company's continued commitment to maintaining a conservative capital structure, as demonstrated by its recent public stock offering in April 2011, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.