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Article: Moody's says Marfrig rating, outlook unscathed by Seara buy.
- Article from:
- ADP Debt News
- Article date:
- September 17, 2009
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(ADPnews) - Sep 17, 2009 - Moody's said that Brazil-based meat processing company Marfrig Alimentos SA's proposed takeover of sector player Seara Alimentos Ltda will not have an automatic impact on its B1 rating and "negative" outlook.
Seara, a subsidiary of US conglomerate Cargill Inc, specialises primarily in pork and poultry meat exports and processed food products, the agency noted. The transaction will include its European and Asian businesses.
"Although we recognise the strategic benefits of the acquisition in terms of scale, synergies and further product diversification, and that Marfrig is planning to fund this acquisition through an equity ...