Moody's Ratings upgrades BRF's ratings to Ba2; outlook changed to stable
Moody's Ratings (Moody's) has upgraded BRF S.A. (BRF)'s corporate family rating (CFR) and its senior unsecured notes to Ba2 from Ba3. The outlook changed to stable from positive. RATINGS RATIONALE The upgrade to Ba2 reflects strong improvement in credit metrics, supported by sound balance sheet ...BRF is a holding company. Through its subsidiaries, Co. is engaged in the production and sale of poultry, pork, beef cuts, and processed food products, pasta, sauce, mayonnaise, frozen vegetables and soybean by-products under several brands. Co.'s processed products include marinated, frozen, whole and cut Chester® rooster and turkey meats, specialty meats, frozen processed meats, frozen prepared entrees, portioned products and sliced products. Co. also sells margarine, sweet specialties, sandwiches, mayonnaise, and animal feed. Co. has an advanced distribution system and uses distribution centers to deliver its products to more than 120 countries.
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