Research Update: Japfa Comfeed 'B+' Rating Affirmed On Speedier Recovery; Outlook Stays Negative Pending Progress On Refinancing - S&P Global Ratings’ Credit Research

Research Update: Japfa Comfeed 'B+' Rating Affirmed On Speedier Recovery; Outlook Stays Negative Pending Progress On Refinancing

Research Update: Japfa Comfeed 'B+' Rating Affirmed On Speedier Recovery; Outlook Stays Negative Pending Progress On Refinancing - S&P Global Ratings’ Credit Research
Research Update: Japfa Comfeed 'B+' Rating Affirmed On Speedier Recovery; Outlook Stays Negative Pending Progress On Refinancing
Published Nov 07, 2024
7 pages (3047 words) — Published Nov 07, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Credit ratios for Japfa Comfeed Indonesia Tbk. PT and its Singapore-based parent, Japfa Ltd., have improved faster than we anticipated previously, supported by favorable industry conditions. Japfa Comfeed's liquidity buffer remains thin and could deteriorate as the maturity date of its US$350 million notes due in March 2026 draws closer. On Nov. 7, 2024, S&P Global Ratings affirmed its 'B+' long-term issuer and issue credit ratings on Japfa Comfeed. The negative outlook reflects the possibility that the company's liquidity position could deteriorate if it makes limited progress in refinancing of its March 2026 U.S. dollar notes. We forecast the company's EBITDA margin will expand to about 10% in 2024 from 6.7% in 2023. Higher poultry prices in the first half

  
Brief Excerpt:

...- Credit ratios for Japfa Comfeed Indonesia Tbk. PT and its Singapore-based parent, Japfa Ltd., have improved faster than we anticipated previously, supported by favorable industry conditions. - Japfa Comfeed's liquidity buffer remains thin and could deteriorate as the maturity date of its US$350 million notes due in March 2026 draws closer. - On Nov. 7, 2024, S&P Global Ratings affirmed its 'B+' long-term issuer and issue credit ratings on Japfa Comfeed. - The negative outlook reflects the possibility that the company's liquidity position could deteriorate if it makes limited progress in refinancing of its March 2026 U.S. dollar notes....

  
Report Type:

Research Update

Issuer
Japfa Comfeed Indonesia Tbk. PT
GICS
Packaged Foods & Meats (30202030)
Sector
Global Issuers
Country
Indonesia
Region
Emerging Markets
Format:
PDF Adobe Acrobat
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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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Japfa Comfeed 'B+' Rating Affirmed On Speedier Recovery; Outlook Stays Negative Pending Progress On Refinancing" Nov 07, 2024. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Japfa-Comfeed-B-Rating-Affirmed-On-Speedier-Recovery-Outlook-Stays-Negative-Pending-Progress-On-Refinancing-3280248>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Japfa Comfeed 'B+' Rating Affirmed On Speedier Recovery; Outlook Stays Negative Pending Progress On Refinancing Nov 07, 2024. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Japfa-Comfeed-B-Rating-Affirmed-On-Speedier-Recovery-Outlook-Stays-Negative-Pending-Progress-On-Refinancing-3280248>
  
US$ 225.00
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