Moody’s cuts Quickfood notes

Moody's Investors Service said it downgraded Quickfood SA's guaranteed senior unsecured notes' ratings to B2/A2.ar from Ba2/Aaa.ar following the acquisition by Marfrig Global Foods SA (B2 stable) of 91.89% of the capital of Quickfood from BRF SA (Ba2 negative).

The outlook of the guaranteed notes was changed to stable from negative.

“The B2 rating and stable outlook of the guaranteed senior unsecured notes reflect the B2 rating and stable outlook of its new guarantor, Marfrig,” the agency said in a news release.

“Quickfood's corporate family rating remains unchanged at B3/Baa2.ar.”

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