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Moody's may still cut JBS
Moody's Investors Service said its ratings for JBS SA will continue under review for possible downgrade until regulators and antitrust authorities in the U.S. rule on JBS's pending acquisitions of National Beef Packing Co., LLC and Smithfield Beef Group Inc., including its subsidiary, Five Rivers Ranch Cattle Feeding.
However, if the transaction is approved in its current form, the most probable outcome is a downgrade of JBS's ratings to B2, the agency said.
Moody's noted that its review of JBS's ratings will focus on its ability to generate positive cash flow from operations and free cash flow for debt amortization over the medium term.
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