Gloria Gets Investment Grade

Gloria Gets Investment Grade

Peru Corporate & Sovereign Strategy

Moody’s has assigned a Baa3 rating to Peru’s Gloria Foods Jorb, it says. The rating is owed to a “leading and dominant position in the dairy market in Peru, which accounts for 60% of the company’s total sales and generates close to 75% of consolidated Ebitda, its historically solid and stable credit metrics and its broadly diversified portfolio of branded packaged food products,” the agency says. Though characterizing liquidity as “tight,” Moody’s expects it to improve. The outlook is stable. Of

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