Moody’s revises Marfrig outlook to positive

Moody's Investors Service said it affirmed Marfrig Global Foods SA's B2 corporate family rating and the senior unsecured ratings of Marfrig Holdings (Europe) BV and Marfrig Overseas Ltd.

The outlook was changed to positive from stable.

Moody’s said the outlook change follows the conversion of R$2.1 billion in debentures to equity and the perspective of improving margins for the Latin American beef operations during 2017.

Moreover, it also recognizes the company's: (a) Consistent strategy of organic growth and deleveraging; (b) remarkable improvement in liquidity profile over several quarters; and (c) increased participation of the more stable U.S. poultry business in sales.

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