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Minerva S.A. 'B' Rating Placed On CreditWatch Negative In Light Of Challenging Operating Environment

Published Mar 09, 2009

989 words — Published Mar 09, 2009

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Abstract:

SAO PAULO (Standard&Poor's) March 9, 2009--Standard&Poor's Ratings Services said today that it has placed its 'B' corporate credit rating on Brazil-based beef producer Minerva S.A. on CreditWatch with negative implications. The CreditWatch placement reflects the recent deterioration of market and credit conditions in the Brazilian beef industry. Minerva reported total debt of $596.3 million as of Sept. 30, 2008. "Brazilian beef producers are facing severe operational pressures: longer receivable terms in export markets; fiercer competition in the domestic market; low operating profitability and negative operating cash flows, due to high cattle costs and difficult cattle sourcing; and tight bank credit availability to Brazilian beef companies, particularly so after a series of recent defaults in the industry,"

Brief Excerpt:

RESEARCH Minerva S.A. 'B' Rating Placed On CreditWatch Negative In Light Of Challenging Operating Environment Publication date: 09-Mar-2009 Primary Credit Analysts: Piero Parolin, Sao Paulo (55) 11-3039-9722; piero_parolin@standardandpoors.com...

Report Type:

Ratings Action

Ticker

BEEF3@BZ

Issuer

Minerva S.A.

GICS

Packaged Foods & Meats (30202030)

Sector

Global Issuers, Structured Finance

Country

Brazil

Region

Latin America

Format:

HTML

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

Research Update: Minerva S.A. Outlook Revised To Stable From Negative; 'CCC+' Corporate Credit Rating Affirmed – 2009/10/02 – US$ 225.00

Minerva S.A. Ratings Upgraded To 'B-' From 'CCC+'; Outlook Stable – 2009/11/18 – 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. – 2009/02/27 – US$ 500.00

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

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Minerva S.A. 'B' Rating Placed On CreditWatch Negative In Light Of Challenging Operating Environment" Mar 09, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Minerva-S-A-B-Rating-Placed-On-CreditWatch-Negative-In-Light-Of-Challenging-Operating-Environment-707581>

APA:	S&P Global Ratings’ Credit Research. (). Minerva S.A. 'B' Rating Placed On CreditWatch Negative In Light Of Challenging Operating Environment Mar 09, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Minerva-S-A-B-Rating-Placed-On-CreditWatch-Negative-In-Light-Of-Challenging-Operating-Environment-707581>

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