Moody's changes Marfrig view to positive

Moody's Investors Service said it affirmed Marfrig Global Foods SA’s Ba3 corporate family rating and changed the outlook to positive from stable.

“The change in outlook to positive from stable reflects Marfrig's continued strong operational performance and adequate liquidity, which increases its ability to weather the volatility of the beef business, and the financial strategies recently implemented, which has led to reduction in leverage and debt levels, extension of bond maturities and lower financial expenses,” the agency said in a press release.

Moody's said it forecasts Marfrig to continue extending debt maturities and reduce 2021-2022 maturities, which represent about 38.8% of total debt on March 31.

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