February 27, 2019 / 7:33 PM / 6 months ago

Brazil miner Vale's shares fall after Moody's cuts debt rating

BRASILIA, Feb 27 (Reuters) - Brazilian miner Vale SA shares fell as much as 1.6 percent on Wednesday, touching a session low, after Moody’s cut its credit rating into junk territory, with a negative outlook.

Moody’s cut its rating for Vale down one notch to Ba1, taking it out of investment grade range, following a Jan. 25 disaster at one of the miner’s facilities that killed an estimated 300 people and led it to take up to 10 percent of its output offline. (Reporting by Jake Spring; Editing by Christian Plumb)

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