Moody’s upgrades Marfrig

Moody’s Investors Service said it upgraded Marfrig Global Foods SA corporate family rating to Ba3 from B1.

“Marfrig’s upgrade to Ba3 reflects the company’s strong operational performance and improvement in credit metrics over the past couple of years, positive industry perspectives and adequate liquidity, which increases its ability to weather the volatility of the beef business. Marfrig’s business profile allows it to benefit from different market dynamics, while National Beef’s large scale and focus on the U.S. domestic market help reduce margin volatility with a mix of high value-added products and access to different export markets,” Moody’s said in a press release.

The outlook remains stable.

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