The Votorantim Group has just received confirmati on of its Investment Grade status by Standard & Poor's, the international credit rating agency which analyzes the level of risk of companies throughout the world. Investment Grade status gives Votorantim the competitive conditions to obtain access to capital on the international market to support its growth projects. In granting this classification, the agency considers the business management, growth indices and the governance policies and transparency of the companies it analyzes. Moody's rating agency has already announced that it is maintaining its Investment Grade rating for the Group.

Votorantim reacted flexibly in the face of the international financial crisis and its developments. The Group took the necessary decisions and implemented the actions laid down in a determined way to reduce the cost and working capital. It also brought investments into line with the new situation and made changes to its portfolio. All these actions were highly assessed and recognized by the agency.

This conquest reaffirms the Group's solidity. "The confirmation of Investment Grade is a reason for us all to feel pride and is due to the quality of the system of governance and the Votorantim team. This highlights our competitiveness and the mercadological positioning of our business portfolio," says Raul Calfat, general director of Votorantim Industrial.