NEW YORK, July 29, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Vale S.A. (NYSE: VALE). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=VALE

Highlights from our VALE Report include: 


        
        - Signing of Memorandum - In a press release dated May 19, 2015, Vale S.A reported
          that it has signed a memorandum of understanding with Industrial and Commercial Bank
          of China (ICBC) for cooperation on global financing arrangements, which would
          reinforce the ties between the two parties. In addition, Vale signed two three-party
          Memorandums of Understanding for potential financing and loan facilities with the
          Export-Import Bank of China (China EXIM Bank) and two leading Chinese shipping
          companies, under the witness of Brazilian President Dilma Rousseff and Chinese Premier
          Li Keqiang.
        - Memorandum with ICBC - According to the terms within the MoU, ICBC, one of China's
          largest commercial banks, would be able to provide up to $4 billion for Vale in the
          form of syndicated loans, bilateral loans, export credit, trade finance, among other
          potential financing arrangements and services. The financial cooperation memorandum is
          meant to facilitate the export of Chinese equipments and provision of packaged
          financial services to the company.
        - Memorandum with EXIM Bank and Chinese Shipping Companies - The Company informed that
          MoUs between Vale, the China EXIM Bank and China Ocean Shipping Company (Cosco), as
          well as China EXIM Bank, China Merchants Group and Vale were signed as part of Premier
          Li Keqiang's official visit program in Brazil. As per each Memorandum, the China EXIM
          Bank will consider providing a loan facility of up to $1.2 billion to both Cosco and
          China Merchants, respectively, to facilitate the two shipping companies' provision of
          iron ore shipping services to Vale.
        - Memorandum with Korea Eximbank - On April 24, Vale signed a memorandum of
          understanding with the Export-Import Bank of Korea, focusing at cooperation between
          the two companies. Under the agreement, Korea Eximbank indicated its intention to
          consider the provision of up to $2 billion in financial support for Vale's projects.
          Further, the Company informed that the MoU was signed by Vale's CEO, Murilo Ferreira,
          and the chairman and president of Korea Eximbank, Lee Duk-Hoon, during an official
          ceremony attended by Brazilian president Dilma Rousseff and the president of South
          Korea, Park Geun-hye.

To find out how this influences our rating on Vale S.A. read the full report in its entirety here: http://www.aciassociation.com/?c=VALE

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