HALISTER1: JBS Bonds Have Room for Additional Gains: Itau BBA

JBS Bonds Have Room for Additional Gains: Itau BBA

(Bloomberg) -- While recent performance could be seen as sign to take profits, Itau BBA says there’s room for additional gains for JBS SA bonds in the coming days, according to research note from analysts including Ciro Matuo.
  • Itau BBA cites:
    • Absence of signs in recent news flow that the civil portion of parent J&F’s leniency agreement will be significantly affected 
    • The fact that testimonies before a congressional inquiry panel are expected only for late Oct.
    • The company’s “fairly ‘credit friendly’ story” driven by liability- management initiatives under way
  • “Barring new negative news flow, we expect the JBSSBZ 7.25% 04/24 bonds to continue to outperform”
To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net To contact the editors responsible for this story: Giulia Camillo at gcamillo@bloomberg.net Jose Orozco

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JBSS3 BZ (JBS SA)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283