Moody's: Usinas unchanged

Moody's Investors Service said that Usinas Siderúrgicas de Minas Gerais SA's Baa3 rating is unaffected by the announced sale of a 14¼% minority interest in Ternium SA for a total cash consideration of $1 billion through a public offering expected to close on Feb. 15.

Together with the $1.25 billion from the recent sale of a 30% stake in Mineracao Usiminas SA, the proceeds will help the company maintain strong liquidity and adequate leverage metrics while executing its large investment plan in a moment of compressed margins, the agency said.

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