New York, October 30, 2015 -- Moody's Investors Service (Moody's) has today downgraded the ratings of the senior unsecured notes issued by Usiminas Commercial Ltd. (guaranteed by Usinas Siderurgicas de Minas Gerais, "Usiminas") to B2 from Ba3 and the ratings of the backed senior unsecured global MTN programs of Usinas Siderurgicas de Minas Gerais S.A., Cosipa Commercial Ltd and Usiminas Commercial Ltd to (P) B2 from (P) Ba3. At the same time, Moody's placed the ratings on review for further downgrade.

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