New York, April 04, 2016 -- Moody's Investors Service has downgraded the senior unsecured notes ratings of Usiminas Commercial Ltd. (guaranteed by Usinas Siderurgicas de Minas Gerais, "Usiminas") to Ca from Caa1 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) Ca from (P) Caa1. The outlook for the ratings is stable.
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