New York, October 06, 2015 -- Moody's Investors Service changed the rating outlook for Gerdau S.A. ("Gerdau") and related ratings to negative from stable. At the same time, Moody's affirmed Gerdau's Baa3 issuer rating, and the Baa3 ratings on the foreign currency debt issues of Gerdau Trade Inc (guaranteed by Gerdau S.A. and its operating subsidiaries in Brazil) and on the local currency debt issues of GTL Trade Finance Inc (guaranteed by Gerdau S.A. and its operating subsidiaries in Brazil), as well as the industrial revenue bonds issued by Jacksonville Economic Development Commission (guaranteed by Gerdau S.A.) and the solid waste disposal bonds issued by St Paul (City of) MN, Port Authority (guaranteed by Gerdau S.A.).

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