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CSN Downgraded to Caa1 Ahead of a US$1.3bn Bond Swap
Moody's cut CSN to Caa1 on 18 May 2026, setting up a private exchange offer of up to US$1.3bn that swaps 2028 notes for 11% 2030 notes.
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CSN Bond Exchange Pushes Out US$1.3bn Debt as H1 Loss Widens
CSN bond exchange: the Brazilian steelmaker swaps up to US$1.3bn of notes at 11% and warns its H1 net loss will widen to R$1.3-1.4bn.
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CSN Downgraded to Caa1 Ahead of a US$1.3bn Bond Swap
Moody's cut CSN to Caa1 on 18 May 2026, setting up a private exchange offer of up to US$1.3bn that swaps 2028 notes for 11% 2030 notes.