Moody’s Smiles on Marfrig

Moody’s Smiles on Marfrig

Moody's has sweetened the outlook on Marfrig Alimentos’ B1 rating to stable from negative, based on progress with integrating recently acquired assets, as demonstrated by improved operating margins and positive cashflow in the 12 months to September. The move affects $375m in debt. The Brazilian meat processor met recently with bond investors to test appetite for lower-rated names in the volatile proteins sector. The B1/B+ rated meatpacker recently raised BRL1.5bn through an equity follow-on to

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