Moody’s Lifts Minerva Ahead of Bond Sale

Jan 15, 2013

Moody’s has upgraded Minerva to B1 from B2 ahead of the Brazilian meatpacker’s proposed $500m 2023 bond sale, it says. The upgrade reflects the improvement in the company’s capital structure following the equity issuance of BRL457m [$225m] in early December. “As a result of the equity offering,...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management