Moody’s gives Quickfood notes Baa3/Aaa.ar

Moody's Latin America said it assigned Baa3 global scale and Aaa.ar national scale ratings to Quickfood SA’s ARS 200 million of fully guaranteed proposed local notes.

The outlook remains stable.

BRF Brasil Foods SA is the guarantor for Quickfood's notes, which would cause an acceleration of most of the parent's debt in the event of a default.

Quickfood intends to use the net proceeds to repay revolver drawings, invest in local assets and integrate working capital within the country. The ARS 200 million proposed notes, fully guaranteed by BRF Brasil, correspond to two new classes apart from the four existing ones: two classes of senior unsecured notes up to ARS 150 million, and two other classes of senior unsecured notes of up to $30 million.

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