Moody’s lifts Marfrig

Moody's Investors Service said it upgraded Marfrig Global Foods SA corporate family rating and the senior unsecured ratings of its wholly owned subsidiary Marfrig Holdings (Europe) BV to B1 from B2.

The outlook is stable.

“The upgrade of Marfrig to B1 reflects the estimated improvements in credit metrics during 2019 and beyond along with the lower refinancing risk after the payment, with proceeds from the Keystone sale, of the $900 million bridge loan raised for the National Beef acquisition and the $1 billion bond issuance in May 2019,” the agency said in a news release.

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