[ad_1]
SÃO PAULO – Rating agency S & P Global Ratings put Vale's rating on notice for possible downgrading, as a result of the rupture of a tailings dam at the Feijão de Brumadinho mine, MG [19659002] The company's ratings, in foreign currency "BBB -", and in local currency "brAAA", in addition to the rating of the subsidiaries of Vale, are under observation.
The measure reflects the unforeseen risks that the miners will face after the dam rupture, which has resulted in dozens of deaths – until now – and devastated the territory of the region. According to S & P, the environmental and social costs of the company can be substantial, especially when it is considered that a similar event has already occurred. In 2015, a dam in Samarco (a joint venture in which Vale holds 50% and BHP 50%) broke up in Mariana, also in Minas Gerais.
"We believe that Vale is facing multiple risks related to the disaster, financial obligations to mitigate and offset losses can be significant, and the company will face long and complex studies of environmental entities and regulatory bodies that may suspend their licenses, "says S & P.
[ad_2]
Source link
