Moody's changes iron ore miner Vale's outlook to negative
NEW YORK May 12 (Reuters) - Moody's Investors Service changed the outlook for Brazilian iron ore giant Vale SA to negative from stable on Tuesday but maintained its Baa2 credit rating.
Moody's said Vale's debt profile continues to be solid and the outlook change reflects a deterioration in the fundamentals of the iron ore and basic metals market.
Moody's affirmed Vale's Baa2 senior unsecured rating and a Baa2 rating on foreign currency debt issues of Vale Overseas, as well as Vale Overseas' Baa2 senior unsecured shelf rating. (Reporting by Anthony Boadle; Editing by Alan Raybould)
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