DBRS Finalizes BBB (high) Rating with Stable Trend on $1.5 Billion Vale New Debt Issue

DBRS has today finalized the BBB (high) rating, with a Stable trend, assigned to $1.5 billion of 5.625% senior unsecured notes due September 11, 2042 (the Vale New Notes), to be issued by Vale S.A. (Vale or the Company), following the pricing of the Vale New Notes and the filing of a final prospectus supplement dated September 4, 2012, to the Vale prospectus dated November 3, 2009.

The offering of the Vale New Notes is expected to close on or about September 11, 2012, subject to customary closing conditions. Vale intends to use the proceeds 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.