Fitch Affirms Usiminas

Fitch Affirms Usiminas

Brazil

Fitch has affirmed the BBB- (stable) foreign and local currency ratings of Brazil's Usiminas and its $500m Global MTN program. "Usiminas' ratings are supported by the company's competitive industry position and strong financial profile," says Fitch. "Usiminas ranks as one of Latin America's largest low-cost integrated steel producers and enjoys dominant market shares in subsectors of the Brazilian market," it adds. Usiminas maintains a 52% share of the flat steel market in Brazil and a 60% share

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