S&P downgrades Vale to BBB+; outlook raised to 'stable'
SAO PAULO Jan 23 (Reuters) - Brazil's Vale SA, the world's largest iron ore producer, had its long-term debt ratings lowered by Standard and Poor's Rating Services on Friday, on expectations that the company's financial risk profile will deteriorate in the next two years.
New York-based S&P, as the ratings company is known, lowered Vale's ratings to "BBB+" from a prior "A-," according to a statement. The outlook on the ratings was raised to "stable" from a previous "negative."
(Reporting by Guillermo Parra-Bernal; Editing by Christian Plumb)
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