JBS signs refi, earns upgrade

JBS signs refi, earns upgrade

Corporate & Sovereign Strategy Capital Markets Brazil

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

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