USIMINASUsinas Siderúrgicas de Minas Gerais SA (Brazilian metallurgy company)
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Usiminas Capex in the period reached R$ 105 million with investments directed mainly to sustaining Capex, safety and environment.
Fitch forecasts Usiminas's net leverage ratio will remain below 2.0x through the next few years.
Steel producer Ternium SA (TX) stated on Thursday that all its entities including Ternium, Siderar and its wholly-owned subsidiary Prosid have exercised their rights to subscribe to their corresponding portion of the shares left unsubscribed in Usinas Siderurgicas de Minas Gerais - Usiminas under the initial subscription round.
4 October 2010 - S&P said on Friday it had maintained its ratings on Brazilian steel manufacturer Usinas Siderurgicas de Minas Gerais SA (Usiminas) (SAO:USIM5), including the BBB- global scale and brAAA national scale corporate credit ratings with a "stable" outlook.
The Positive Outlook is supported by Fitch's expectation that Usiminas' credit profile and financial flexibility will be further enhanced over the medium term.
Also, the company said that the T/T Group also indicated its willingness to subscribe ordinary shares not subscribed by Usiminas' current shareholders, up to a maximum number that will be specified soon.
Usiminas is a publicly-traded company with shares traded on the BM&FBovespa, the Over-the-Counter Market (OTC) and the Madrid Stock Exchange (Latibex).
MBR and Vale's operations, as well as those of its other main shareholders, such as CSN (18.6%), Usiminas (11.1%) and Gerdau (1.3%), are heavily dependent on MRS's iron ore cargo capacity in its coverage area.
M2 EQUITYBITES-October 3, 2014-Ternium to purchase BRL616.7m additional Usiminas shares