Moody’s Negative on JBS

Moody’s Negative on JBS

Brazil Corporate & Sovereign Strategy

Moody’s has revised the outlook on JBS’s Ba3 rating to negative from stable, it says. The move is based on the Brazilian meatpacker’s heightened leverage following the acquisition of the operationally challenged Seara Alimentos business an the challenge of integrating it. In June, JBS announced the proposed acquisition of Seara for BRL5.85bn ($2.73bn) from Marfrig. The agreement involved the assumption of Marfrig's bank debt maturing from 2013 to 2017 by JBS. The transaction is expected to close

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