Moody’s rates Frigorifico notes B1

Moody’s Investors Service said it rated Frigorifico Concepcion SA’s planned up to $300 million of senior secured global notes due 2030 B1. The agency also affirmed the company’s B1 corporate family rating.

“The B1 ratings of Frigorifico Concepcion SA (Frigorifico Concepcion) reflect its leading position in the production and sale of fresh beef and pork, with regional diversification of production through facilities located in Paraguay, Bolivia and Brazil, which in turn supports the company's access to a diversified pool of export markets.

“The rating also incorporates Frigorfico's ability to significantly increase revenues through expansion of processing capacity and strategic acquisitions since 2020, while at the same time maintaining strong profitability aided by its experienced management and good operating environment in Latin America, particularly in Paraguay, where the company benefits from a lower tax burden relative to regional peers,” Moody’s said in a press release.

The company will use the proceeds for working capital, capital expenditures, repayment of borrowings and/or general corporate purposes.

The outlook remains stable.

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