Bulletin: Marfrig Global Foods S.A.'s Higher Equity Interest In National Beef Won't Materially Impact Leverage Metric - S&P Global Ratings’ Credit Research

Bulletin: Marfrig Global Foods S.A.'s Higher Equity Interest In National Beef Won't Materially Impact Leverage Metric

Bulletin: Marfrig Global Foods S.A.'s Higher Equity Interest In National Beef Won't Materially Impact Leverage Metric - S&P Global Ratings’ Credit Research
Bulletin: Marfrig Global Foods S.A.'s Higher Equity Interest In National Beef Won't Materially Impact Leverage Metric
Published Nov 18, 2019
2 pages (1182 words) — Published Nov 18, 2019
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

SAO PAULO (S&P Global Ratings) Nov. 18, 2019--S&P Global Ratings said today that its ratings on Marfrig Global Foods S.A. (global scale: BB-/Stable/--; national scale: brAA+/Stable/--) are not affected following the company's increase of its ownership interest in National Beef Packing Company, LLC to 81.73% from 51%. This consists of acquiring National Beef shares that Jefferies Financial Group Inc (Jefferies; BBB-/Positive/--) currently owns. We expect the transaction to have a minor impact on our adjusted leverage metric for Marfrig, consisting of a cash disbursement of $849 million (or about R$3.4 billion). We already adjusted as equivalent to debt the put option that Jefferies and other minority shareholders have against Marfrig. This adjustment added about R$3.5 billion to our adjusted debt

  
Report Type:

Bulletin

Ticker
MRFG3@BZ
Issuer
Marfrig Global Foods S.A.
GICS
Packaged Foods & Meats (30202030)
Sector
Global Issuers, Structured Finance
Country
Brazil
Region
Latin America
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Marfrig Global Foods S.A.'s Higher Equity Interest In National Beef Won't Materially Impact Leverage Metric" Nov 18, 2019. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Marfrig-Global-Foods-S-A-s-Higher-Equity-Interest-In-National-Beef-Won-t-Materially-Impact-Leverage-Metric-2341477>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Marfrig Global Foods S.A.'s Higher Equity Interest In National Beef Won't Materially Impact Leverage Metric Nov 18, 2019. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Marfrig-Global-Foods-S-A-s-Higher-Equity-Interest-In-National-Beef-Won-t-Materially-Impact-Leverage-Metric-2341477>
  
Free
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.