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LatinNews Regional Monitor: Brazil & Southern Cone - 28 February 2019
In brief: Brazil
* Credit rating’s agency Moody’s Investors Service has downgraded Brazilian mining company Vale's rating to 'Ba1', following the collapse of a Vale tailings dam in the Brazilian state of Minas Gerais last 25 January. Moody’s notes that the downgrade reflects heightened credit risk and uncertainties as to the long-term impact of the disaster on the company’s credit profile, amid concerns over social, environmental, and corporate governance and Vale’s financial liability following the dam collapse. Vale’s shares fell 1.6% after Moody’s announced the downgrade.
