Sao Paulo, December 13, 2013 -- Moody's América Latina ("Moody's") assigned a Baa2 global scale local currency rating and a Aaa.br National Scale Rating (NSR) to the planned BRL 750 million senior unsecured notes (Debentures de Infraestrutura) to be issued by Vale S.A. The debentures will have varying maturity dates. The company intends to use the proceeds for infrastructure projects. All other ratings remain unchanged. The outlook is stable.

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