Vale Plans to Tap Debt Markets Next Year After Upgrade

Vale SA said it will tap debt markets ivertical roller mills animationn 2012 after Standard & Poor’s raised its credit rating last week.

The company is analyzing credit-market conditions because the European debt crisis hasn’t been “very helpful,” Chief Financial Officer Tito Martins said yesterday in an interview in New York after the company presented its 2012 investment plan. Vale’s upgrade to A- from BBB+ by S&P on Nov. 23 came at “a very good time” because the mining company has “huge” investments planned, Martins said. “We will be in the market in the next year, I don’t have any doubt about that,” Martins said, adding that the company hasn’t yet decided on the size and timing of any potential issuance. “We have consistently accessed the...