BRF Outlook Improves: Fitch

BRF Outlook Improves: Fitch

Brazil Corporate & Sovereign Strategy

Fitch has raised the outlook on Brasil Foods’ (BRF) BBB minus rating to stable from negative, it says. The agency bases its decision on the rapid deleveraging BRF demonstrated in 1H 2013, as a consequence of the recovering profitability of its export businesses, coupled with the efficiency in managing its domestic market share after the brand suspensions and asset disposals. As of July 30, BRF’s net debt-to-Ebitda was 2.5x, significantly below the 3.2x at the end of 2012. “Fitch expects that the

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial