S&P rates Votorantim Participações

Standard & Poor's said it assigned its BBB- local currency and BB- foreign currency corporate credit ratings to Votorantim Participações SA. (VPar). The outlook is stable.

At the same time, the BBB- local currency and the BB- foreign currency corporate credit ratings on Votorantim Group were withdrawn.

S&P said the ratings withdrawal is intended to better reflect the current corporate structure of the Votorantim Group by focusing the analysis on the group's main corporate holding company, VPar, in light of the rearrangements undertaken by the group in the past several years. As such, VPar today holds all of the group's shares in its industrial and financial divisions (cement, metals, banking, pulp and paper, orange juice, chemicals, and venture capital).

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