Meat and poultry processor JBS SA has received a stable BB rating from Fitch Ratings. Following the June 10 acquisition of South American poultry and pork processor Seara Brasil, Fitch Ratings placed JBS in a rating watch and has since confirmed JBS has a stable outlook.
"JBS's credit ratings are supported by a strong business profile. The company is the world's largest beef and leather producer. With the acquisition of Seara Brasil, JBS has become the second largest processed meats producer in Brazil. The company's product and geographic diversification help to mitigate risks related to disease and trade restrictions," said Johnny da Silva, director of Fitch Ratings.