Sao Paulo, April 16, 2014 -- Moody's Investors Service ("Moody's") has assigned a Baa3 rating to the proposed up to USD 1.25 billion 10-year senior unsecured notes to be issued by GTL Trade Finance Inc. and Gerdau Holdings Inc.. The notes will be unconditionally and irrevocably guaranteed by Gerdau S.A. ("Gerdau", rated Baa3, outlook stable) and its operating subsidiaries in Brazil (Gerdau Açominas S.A., Gerdau Aços Longos S.A. and Gerdau Aços Especiais S.A.). The rating outlook is stable.

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