Gerdau S.A. -- Moody's places Gerdau's Baa3 ratings on review for downgrade

New York, December 10, 2015 -- Moody's Investors Service has placed Gerdau S.A. ("Gerdau")'s Baa3 issuer rating on review for downgrade. At the same time, Moody's placed 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 Port Authority, MN (guaranteed by Gerdau S.A.) on review for downgrade. The rating action follows Moody's rating action on December 9, 2015 that has placed Brazil's Baa3 issuer and bond ratings on review for downgrade.

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