Brazil-based food producer Marfrig announced the sale of its subsidiaries, Seara Brasil and Zenda, as part of its effort to reduce debt and improve its capital structure. We are placing our 'B' ratings on Marfrig on CreditWatch with positive implications. The positive CreditWatch listing reflects the potential for the ratings affirmation with a stable outlook or a one-notch upgrade after we analyze the impact of this sale on the company's cash generation and on overall improvement in its credit metrics. On June 11, 2013, Standard&Poor's Ratings Services placed its 'B' ratings on Marfrig Alimentos S.A. (Marfrig) on CreditWatch with positive implications. The CreditWatch placement follows Marfrig's announcement that it agreed to sell its Brazilian poultry operations of Seara
