BRAZIL - Brazilian meat processor JBS SA has had its risk rating raised from 'BB' to 'BB' with a stable outlook by the risk ratingst agency Fitch Ratings.
On a national scale, the risk rating rose two notches of 'A-(bra)' to 'A + (bra)'.
According Johnny da Silva, Director of Fitch: "The rating upgrade reflects the improvement in the profile of the JBS business, including the successful integration of Seara Brazil, whose recognised brands and less volatile operation improved the portfolio of JBS business.
“Elevation also reflects the strong geographic and portfolio diversification, as well as Fitch's expectation that the JBS will generate cash and improve its leverage. Fitch expects that JBS will present a good performance in all its business units in 2014 and 2015."
JBS sees this improvement in classification rating of the Company as another step in the continuous improvement of its financial structure.
TheMeatSite News Desk