International credit rating agency S&P Global Ratings affirmed Gerdau’s credit ratings and revised its outlook from stable to positive, the Brazilian steelmaker said in a market announcement.
S&P expects Gerdau’s operating and financial profile to strengthen over the coming years. The agency cited resilient performance in the company’s North American operations, as well as competitiveness and efficiency gains from strategic investments in Brazil.
S&P also expects stronger cash flow generation. Gerdau’s conservative capital allocation and financial policies, which keep leverage low, support the positive outlook.
Gerdau said Fitch Ratings assigned it a positive outlook in 2026, while Moody’s outlook was stable.
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