S&P Considers Marfrig Upgrade

S&P Considers Marfrig Upgrade

Brazil

S&P has revised its outlook on Brazil-based meat processing company Marfrig Frigorificos e Comercio de Alimentos to negative from stable. It also affirmed a B+ corporate credit rating on Marfrig and its $375m notes due 2016. Pro forma fiscal 2007, the agency expects Marfrig to report about $800m of total debt. "The rating action reflects Marfrig's lower-than-expected cash flow generation, leading to weak credit metrics for the rating category, associated with the company's aggressive growth stra

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