New York, June 15, 2016 -- Moody's Investors Service comments that Usinas Siderúrgicas de Minas Gerais S.A. ("Usiminas", Ca stable) announced binding agreements with creditors to refinance debt. The development is credit positive, but has no impact on the ratings. The agreements set with creditors extending payments to 10 years reduce liquidity pressures, providing the company financial relief at a time it is struggling to maintain the profitability of its operations.
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