Brazilian development bank extends maturities as the steelmaker moves to raise capital
Tag: Usiminas
Posted inDaily Brief
Usiminas renegotiates debt
Brazilian steelmaker reaches agreement with banks and bondholders to refinance roughly 75% of its debt
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CSN increases Usiminas share
Brazilian steelmaker spends $50m for another 3% stake in the Minas Gerais-based counterpart
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Moody’s cuts Usiminas
Rating agency says steelmaker’s standstill agreement with lenders constitutes a default
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S&P cuts Usiminas
Rating agency views the Brazilian steelmaker’s 120-day standstill agreement with banks as tantamount to default
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Usiminas looks to sell manufacturing unit
Brazilian steelmaker could increase capital to accommodate a potential buyer of the Mecanica subsidiary, sources say
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Fitch cuts Usiminas by two notches
The rating agency says the Brazilian steelmaker will have a hard time making debt payments, unless it can refinance its short-term obligations
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Moody’s downgrades Usiminas
The rating agency cites weaker market fundamentals in the steel sector