S&P ups JBS, JBS USA

S&P said it raised its long-term issuer credit ratings on JBS SA and JBS USA Lux SA to BB from BB-. The agency also raised the national scale rating on JBS to brAAA from brAA+.

S&P raised the senior unsecured debt ratings on JBS and JBS USA to BB from BB- and the senior secured debt ratings on JBS USA to BBB- from BB+.

“The upgrade reflects JBS’ resilient cash flows and ability to quickly deleverage in 2019. We revised our business risk profile on JBS to strong from satisfactory, despite the volatility inherent in its commodities business, and our financial risk profile to significant from aggressive, because of significantly improved leverage profile, capital structure, and liquidity through the use of cash flows and debt refinancing to reduce debt,” said S&P in a press release.

The outlook is stable.

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