Moody’s rates Quickfood notes Baa2/Aaa.ar

Moody's Latin America said it assigned a Baa2 global scale and Aaa.ar national scale ratings to Quickfood SA’s proposed up to ARS 178 million guaranteed senior unsecured notes to be issued in the local market.

The notes will be fully and unconditionally guaranteed by its Brazilian parent company, BRF SA (Baa2 stable).

The outlook is stable.

The Baa2/Aaa.ar ratings for Quickfood's proposed notes mirrors the rating of its Brazilian parent company, BRF, who fully and unconditionally guarantees the instruments, which would cause an acceleration of most of the parent's debt in the event of a default.

The stable outlook guaranteed notes reflect the outlook of BRF.

Quickfood intends to use the net proceeds to invest in infrastructure assets, technology updates and the reconditioning of its plants. Proceeds will also be used to integrate working capital. The ARS 178 million proposed notes correspond to a new class apart from the six existing ones.

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