May 17, 2018 |
S&P Global Ratings has upgraded JBS and JBS USA to B+ from B after the meat processor said it refinanced the bulk of its short-term debt with banks.
The rating agency said in a report the repayment "significantly" extended the tenor on JBS debt and improved the company's liquidity position.
S&P also tagged JBS with a positive outlook and could raise its credit ratings again in the next six to 12 months if the company reduces leverage and maintains adequate liquidity.
JBS extended matu
Brazilian meat processor gets bump to B+ from B by S&P Global Ratings