- Language: English
- Published: October 2012
Minerva S.A. Upgraded To 'B+', Assigned Brazilian National Scale Corporate Credit Rating Of 'brBBB'; Outlooks Are Stable Mar 12
- Published: March 2012
- Standard & Poors
We expect that Minerva's cash flows will improve throughout 2012, on lower cattle prices and higher plant utilization. The company's capital structure has improved considerably as it has reduced its refinancing risks and extended its maturities while maintaining an adequate cash position. We are raising our global scale corporate credit and debt ratings on Minerva to 'B+' from 'B', and assigning a Brazilian national scale corporate credit rating of 'brBBB'. The stable outlooks reflect our expectation of a gradual deleveraging, despite the company's still highly leveraged financial metrics and execution challenges to strengthen cash flows. SAO PAULO (Standard & Poor's) March 15, 2012--Standard & Poor's Ratings Services said today that it raised its global scale ratings, including the corporate credit...
Companies mentioned in this report are: Minerva S.A.
Action: New Rating
Action: Outlook: Stable
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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