Ratings Agency Shows JBS Stable24 October 2013
BRAZIL - Brazilain meat processing giant JBS has been taken off 'Negative Watch' by Ratings agency, Fitch.
According to JBS S.A., Fitch Ratings has reaffirmed the Company’s and JBS USA’s BB - ratings with a stable outlook.
After the announcement of Seara acquisition on 10 June 2013, Fitch placed the Company and its subsidiary, JBS USA, in Rating Watch Negative but the agency has now affirmed the ratings with a stable outlook.
According to Johnny da Silva, Fitch’s Director: “JBS’s credit ratings are supported by a strong business profile. The company is the world’s largest beef and leather producer. With the acquisition of Seara Brasil, JBS has become the second largest processed meats producer in Brazil.
"The company’s product and geographic diversification help to mitigate risks related to disease and trade restrictions,” he added.
TheMeatSite News Desk