DBRS Finalizes BBB (high) Rating with Stable Trend on Vale Overseas New Notes

DBRS has today finalized its rating of BBB (high), with Stable trend, on the $1.0 billion 4.375% senior unsecured notes due January 11, 2022 (the Guaranteed Notes) to be issued by Vale Overseas Limited (Vale Overseas) and unconditionally guaranteed by Vale S.A. (Vale or the Company) following the pricing of the Guaranteed Notes and the filing, on January 5, 2012, of a final prospectus supplement to the Vale Overseas prospectus dated November 3, 2009.

The offering of the Guaranteed Notes is expected to close on or about January 11, 2012, subject to customary closing conditions. Vale is expected to use the net proceeds from the sale of the Guaranteed Notes for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Mining Industry, which can be found on our website under Methodologies.