New York, October 30, 2014 -- Moodys comments that the renewal of the Shareholders Agreement between BNDES Participações S.A. (Baa2/Negative) and Votorantim Industrial S.A. ("VID", a holding company owned by Votorantim Participações S.A.; Baa3/Positive) filed on October 29 is credit positive for Fibria Celulose S.A as it proves a continued support from its two largest shareholders to pursue its strategy and reduces risks related to change in control.
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