Vale Aktie
WKN: 897136 / ISIN: BRVALEACNOR0
03.08.2016 00:07:00
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Vale S.A. -- Moody's comments that gold stream transaction is credit positive for Vale
New York, August 02, 2016 -- Moody's Investors Service comments that Vale S.A. (Ba3 Negative)'s agreement to sell an additional 25% of the gold extracted from its Salobo mine to Silver Wheaton (Caymans) Ltd. (unrated) for an upfront payment of USD 800 million is credit positive because the company will direct proceeds towards debt reduction, which indicates the company's commitment to divest assets in an effort to reduce leverage.