Moody's says JBS view stable

Moody's Investors Service said it affirmed the long-term ratings of JBS SA, including its B1 corporate family rating and revised the outlook to stable from positive.

Moody's said the outlook change reflects its expectation that JBS's credit profile is not likely to improve sufficiently to warrant an upgrade soon.

"The stabilization of the rating reflects the fact that even considering a recovery in JBS's operating performance in the third quarter of 2011, the improvement in some of the credit metrics over that period was not enough to justify for an upgrade," Moody's local market analyst Marianna Waltz said in a news release.

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