Fitch affirms Votorantim

Fitch Ratings said it affirmed the foreign and local currency issuer default ratings of Votorantim Participacoes SA at BBB-.

Fitch said it has also affirmed Votorantim's AA+(bra) national-scale rating.

In conjunction with these affirmations, Fitch added that it has assigned a BBB- foreign currency issuer default rating to the following issuers of guaranteed debt: Voto-Votorantim Ltd.; Voto-Votorantim Overseas Trading Operations III Ltd.; Voto-Votorantim Overseas Trading Operations IV Ltd.; and Voto-Votorantim Overseas Trading Operations V Ltd..

The ratings of Votorantim continue to reflect the strong, long-term underlying fundamentals of the company's industrial businesses, which are organized under its industrial subsidiary, Votorantim Industrial SA, the agency said.

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