On June 24, 2008, Standard&Poor's Ratings Services placed its 'B+' long-term corporate credit rating on Brazil-based meat-processing company Marfrig Frigoríficos e Comércio de Alimentos S.A. (Marfrig) on CreditWatch with negative implications. The CreditWatch placement follows Marfrig's announcement that it has formalized a firm commitment to acquire OSI Group's businesses in Brazil and in several European countries, including 15 manufacturing facilities for further processed and industrialized products and poultry slaughtering, with annual revenues of $2 billion. The deal is valued initially at $680 million with a potential additional payment in the future of up to $220 million linked to future performance of the European businesses. The CreditWatch indicates that we could lower or affirm the ratings on Marfrig after
