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S&P applies BB to JBS USA notes
Standard & Poor's said it assigned its BB rating to JBS USA LLC's and subsidiary JBS USA Finance Inc.'s proposed $750 million senior unsecured notes due 2025.
The rating reflects the credit quality of JBS USA (BB/positive/--) and its parent company, JBS SA (BB/positive/--).
The notes are guaranteed on an unsecured senior basis by all of JBS USA's current and future U.S. restricted subsidiaries (except JBS USA Finance and JBS US Holding LLC) and its parents – JBS, JBS USA Holdings Inc. and JBS Hungary Holdings Kft.
The company will use the proceeds to tender JBS' existing senior unsecured notes due 2018, improving its capital structure by extending debt maturities and reducing the cost of debt.
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