Gerdau faces downgrade

摘要

Moody's Investors Service has placed global steel maker Gerdau on review for a possible loweringof its rating because of worsening marketing conditions in its home country of Brazil.Though a possible downgrade of the Brazilian government's bond rating is the catalyst for the look atGerdau, the extent that global steel industry fundamentals, especially in Brazil, deteriorate further andfaster than anticipated could result in reduction of Gerdau's rating irrespective of the outcome of thegovernment bond's review, said Barbara Mattos, a senior credit officer at Moody's.