August 20, 2012
Marfrig Alimentos has been downgraded to B2 from B1 by Moody's, the rating
Marfrig Alimentos has been downgraded to B2 from B1 by Moody's, the rating agency says. The Brazilian protein company's downgrade "reflects the company's continued elevated leverage and the recent deterioration in its liquidity, mainly due to the concentration of short term debt payments in the second and third quarters of 2012," Moody's says. However, it also highlights as positive the company's footprint, diversification and distribution as well as brand opportunities. The outlook is stable.