Fitch assigns Frigorifico notes B+

Fitch Ratings said it assigned B+/RR4 ratings to Frigorifico Concepcion SA's $300 million of senior secured bonds due in 2030. The bonds will be pari passu with the 2028 notes, and secured by certain real estate property and equipment located in Paraguay, as well as 50% of capital stock of its subsidiaries Frigorifico BFC SA and BMG Foods SA, which are also guarantors of the transaction.

The ratings are the same as those on Frigorifco’s $300 million of 7.7% senior secured notes due 2028.

The proceeds will be used for expansionary capital expenditures, working capital needs, debt refinancing and will reinforce the company's cash balance.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.