New York, November 10, 2015 -- Moody's Investors Service has downgraded to Ba1 from Baa3 the ratings for Samarco's senior unsecured notes due 2022, 2023 and 2024. At the same time, Moody's has withdrawn Samarco's issuer rating and assigned a Ba1 corporate family ratings (CFR) to Samarco on the global scale. The ratings were placed on review for further downgrade.

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