On Oct. 9, 2008, Standard&Poor's Ratings Services affirmed its 'B+' corporate credit rating on Brazil-based beef producer Marfrig Frigoríficos e Comércio de Alimentos S.A. (Marfrig), and removed all ratings from CreditWatch, where they were placed with negative implications on June 24, 2008. The outlook is negative. The CreditWatch resolution reflects the advanced stage of Marfrig's funding strategy in its acquisition of OSI Group LLC's businesses in both Brazil and several European countries (jointly named "Moy Park") for around US$680 million. Marfrig concluded part of the capital increase needed to finance its acquisition of Moy Park in August 2008, raising new capital and paying OSI for part of the purchase in Marfrig shares. The company is currently in the
