New York, December 04, 2015 -- Moody's Investors Service has downgraded to Caa1 from Ba1 the corporate family rating of Samarco Mineração S.A. ("Samarco") and the ratings of its senior unsecured notes due 2022, 2023 and 2024. The outlook was changed to negative. This rating action concludes the review for downgrade initiated on November 10, 2015 following the accident at the Germano site in Minas Gerais.

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