Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Minerva S.A.

Minerva S.A.

Published Feb 27, 2009

3720 words — Published Feb 27, 2009

Price US$ 500.00 | Buy this Report Now

About This Report

Abstract:

Improved asset distribution and product portfolio Some flexibility derived from asset composition Satisfactory liquidity position and low refinancing risk Exposure to the volatile and highly competitive meat industry Lower and more-volatile margins compared with local peers resulting from a relatively weaker business strategy Highly leveraged capital structure and weak cash flow generation Commodity and sanitary risks associated with the meat business Some dependence on the Russian market for exports Standard&Poor's Rating Services' ratings on Brazil-based meatpacking company Minerva S.A. (Minerva) reflect: the company's operations in the volatile and highly competitive global meat industry; its more volatile and slightly weaker margins compared with those of local peers, partly due to its business strategy (extensive purchase of meat parts for

Brief Excerpt:

RESEARCH Minerva S.A. Publication date: 27-Feb-2009 Primary Credit Analyst: Piero Parolin, Sao Paulo (55) 11-3039-9722; piero_parolin@standardandpoors.com Secondary Credit Analyst: Reginaldo Takara, Sao Paulo (55) 11 3039-9740; reginaldo_takara@standard...

Report Type:

Full Report

Ticker

BEEF3@BZ

Issuer

Minerva S.A.

GICS

Packaged Foods & Meats (30202030)

Sector

Global Issuers, Structured Finance

Country

Brazil

Region

Latin America

Format:

PDF

Minerva S.A. 'B' Rating Placed On CreditWatch Negative In Light Of Challenging Operating Environment – 2009/03/09 – US$ 150.00

Research Update: Minerva S.A. 'B' Rating Placed On CreditWatch Negative In Light Of Challenging Operating Environment – 2009/03/09 – US$ 225.00

Minerva S.A. Rating Lowered To 'CCC+' From 'B'; Outlook Negative – 2009/06/19 – US$ 150.00

Research Update: Minerva S.A. Rating Lowered To 'CCC+' From 'B'; Outlook Negative – 2009/06/19 – US$ 225.00

Minerva S.A. Outlook Revised To Stable From Negative; 'CCC+' Corporate Credit Rating Affirmed – 2009/10/02 – US$ 150.00

Summary: Minerva S.A. – 2009/02/27 – US$ 225.00

Minerva S.A. – 2008/07/07 – US$ 500.00

Summary: Minerva S.A. – 2008/07/07 – US$ 225.00

Summary: Minerva S.A. – 2008/02/01 – US$ 225.00

Industria E Comercio De Carnes Minerva Ltda. – 2007/05/23 – US$ 500.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Minerva S.A." Feb 27, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Minerva-S-A-705622>

APA:	S&P Global Ratings’ Credit Research. (). Minerva S.A. Feb 27, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Minerva-S-A-705622>

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