S&P revises Frigorifico Concepcion view to positive

S&P said it revised its outlook on Frigorifico Concepcion SA to positive from stable and affirmed its B issuer credit and issue-level ratings.

“The positive outlook reflects our expectation that Concepcion will post EBITDA above $150 million and an EBITDA margin above 10% in 2023 and 2024. We also expect the company to keep debt to EBITDA below 3.5x and sources of cash above uses of cash in the next 12 months, while ramping up the recently acquired facilities and expanding its operations,” S&P said in a news release.

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