Usiminas celebrates new rating upgrade
Standard and Poors, a leading international risk rating agency, announced on Tuesday afternoon (6/12) the increase in the credit rating of Usiminas from B- to B, with a positive outlook. According to the agency, the rating improvement reflects the company's gradual recovery in economic-financial requirements and the company's successful strategy of focusing on higher-value products with higher margins.
Analysts also estimate that the company will benefit from increased domestic demand for flat steel, price recovery in domestic and international markets and shipments of higher volumes of iron ore by “Mineração Usiminas” (Usiminas Mining).
This was the second time in less than a year that S & P has upgraded Usiminas' rating. Considering the recommendations of Fitch and Moody's, the company has had its new credit improved five times since September 2017.