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Bulletin: Camil Alimentos S.A. Rating Unaffected By Acquisition Of Femepe Industria e Comercio de Pescados S.A. May 11
Standard & Poors, May 2011
Abstract
SAO PAULO (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services said today that its rating on Camil Alimentos S.A. (Camil; BB-/Stable/--) is not affected by Camil's acquisition of Femepe Ind-stria e Com-rcio de Pescados S.A. (not rated). In our view, the acquisition is in line with Camil's growth strategy, as it increases asset diversification into more value-added branded products. Femepe specializes in producing and marketing canned fish through the brands Alcyon, Pescador, and Navegantes. We believe Camil will obtain economies of scale in distribution and commercial synergies in cross-selling products, thus increasing its bargaining power with retailers. We view Camil's growth strategy as aggressive, but we view the company's efforts to improve its currently weak business profile as...
Companies mentioned in this report are: Camil Alimentos S.A.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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