Moody’s downgrades JBS

Moody's Investors Service said it downgraded JBS SA's corporate family rating to B2 from Ba3, the senior unsecured ratings of its wholly owned subsidiary JBS USA Lux SA to B1 from Ba3 and JBS USA’s senior secured ratings to Ba3 from Ba2.

The ratings of both companies remain under review for downgrade.

Moody’s said the downgrades reflect continued risks related to potential future litigation cases, governance of the company, and reputational damage, and whether, or to which extent, these risks could harm the company's operations, market access, and liquidity.

The action also incorporates possible additional criminal investigations that directly or indirectly involve JBS SA, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.