by Amruth Sundarkumar | Oct 20, 2022 | Corporates, Credit Ratings, High Yield Bonds
Brazil-based Marfrig Global Foods has been upgraded by Fitch to BB+ from BB. Among the major reasons for Fitch’s upgrade is Marfrig’s strong operating performance, expected positive free cash flows and low net leverage. While lower profitability is expected from its...
by Amruth Sundarkumar | May 19, 2022 | Corporates, Credit Ratings
Marfrig Global Foods was upgraded to Ba2 from Ba3 by Moody’s with a positive outlook. Moody’s notes that Marfrig has shown strong operational performance and adequate liquidity, lower financial expenses driven by the liability management strategies, and its...
by Amruth Sundarkumar | Mar 31, 2022 | Corporates, Credit Ratings
Marfrig Global Foods was upgraded to BB+ from BB by S&P. The rating agency views that Marfrig’s business risk profile relatively strong for its rating category – its considerable size in the US and South America mitigates commodity cycle volatility....
by Amruth Sundarkumar | Dec 6, 2021 | Corporates, Credit Ratings, High Yield Bonds
Brazilian protein company Marfrig Global Foods was upgraded to BB from BB- by S&P . The upgrade comes after the company’s U.S. operations thrived due to strong beef demand and high cattle availability. This has led to record high cutout ratios and a...
by bondevalue | May 24, 2021 | High Yield Bonds
Brazil’s beef producer Marfrig Global Foods SA bought a 24% stake in the world’s largest poultry exporter BRF SA for about $800mn, becoming its major shareholder, with the aim of diversifying its investments. This comes after the two companies failed at merger...
