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© Reuters. S & P places Vale's rating on the list of possible downgrades after Brumadinho
Pavini Arena – The international risk agency Standard & Poor's attributed Vale's credit rating to January 25, including the Global scale notes in currency – BBB – & # 39; and at the Brazilian national level "brAAA", in CreditWatch (revision), with negative implications. According to S & P, CreditWatch reflects the potential risks Vale will face as a result of the disruption of the Brumadinho Dam, which resulted in several deaths and the devastation of much of the region. The environmental and social responsibilities could be considerable, especially since the company had already registered an accident of this type. The Samarco Dam, a Vale joint venture with BHP Billiton, was broken in 2015, causing a huge environmental disaster with 19 deaths and the company's inaction and failure to meet its obligations [19659004] S & P says believe that Vale will now face multiple risks related to this disaster. Its financial obligations for compensation and compensation for losses can be substantial and the company may be faced with long and complex studies by environmental entities and regulatory bodies, which may result in the suspension of licenses. "Our badessment of events will also take into account our opinion of Vale's ability to operate its mines safely," the statement said.
From Pavini Arena
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