October 19, 2020
S&P Global Ratings said it upgraded Brazilian meat producers JBS and Minerva by one notch and revised the outlook for Marfrig to positive on higher earnings and lower debt levels.
For JBS, S&P raised the long-term ratings to BB+ from BB, saying the company keeps paying off debt as improving results feed EBITDA and free cash flow. S&P also upgraded JBS' US subsidiary, JBS USA, to BBB from BBB- and affirmed JBS' local ratings at brAAA, it said in a report on Thursday.
JBS can count on
Ratings agency moves JBS and Minerva up a notch and improves its outlook for Marfrig