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247 – Following the break-up of a Vale mining company's dam in Brumadinho (MG), the ratings agency S & P Global Ratings placed CreditWatch's credit rating with negative implications. The rating of the Brazilian currency (currently "brAAA") and the foreign currency rating (currently "BBB-"), in addition to the ratings of the mining subsidiaries, have been observed.
S & P could degrade the It's worth several steps, but it depends on the impact of the accident.
According to the agency, the expenses incurred to repair the damage and pay compensation can be high. S & P plans to deliberate on Vale's position in CreditWatch once all relevant information is available.
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