Marfrig announced its acquisition of Seara Alimentos Ltda. We are affirming our 'B+' rating on Marfrig with a negative outlook. We will monitor the company's financing of the transaction and the implications for the firm's capital structure. On Sept. 16, 2009, Standard&Poor's Ratings Services affirmed its 'B+' corporate credit rating on Brazil-based meat processor Marfrig Alimentos S.A. following Marfrig's announcement that it has acquired meat processor Seara Alimentos Ltda. (Seara) and its subsidiaries in Brazil and Europe from Minnetonka-based Cargill Inc. for $706.2 million in cash plus $193.8 million in debt. The outlook is negative. The rating affirmation takes into account the positive implications of Marfrig's acquisition of Seara for its business profile, including synergies captured by their
