Moody’s changes Quickfood to stable

Moody's Latin America said it changed the outlook of Quickfood SA's senior notes guaranteed by BRF SA to stable from negative and affirmed its Ba1/Aaa.ar rating.

The action is in line with Moody's Investors Service March 17 outlook change of BRF's ratings, which followed the March 15 change in Brazil's outlook to stable from negative and the affirmation of its issuer rating, senior unsecured and shelf ratings at Ba2 and provisional Ba2, respectively.

BRF 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 agency said.

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