Moody’s Downgrades JBS Corporate Family Rating to Ba3 From Ba2
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
JBSS3 BZ (JBS SA)
Topics
Criminal Practice & Procedure
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UUID: 7947283
(Bloomberg) -- Action follows confirmation by JBS S.A. that seven executives of the company and its controlling entity, J&F Investimentos, entered into a plea bargain agreement with the Federal Public Prosecutor’s Office concerning allegations of corruption, Moody’s Investors Service says in emailed statement.
- Rating downgrades include JBS S.A.’s Corporate Family Rating to Ba3 from Ba2, JBS USA’s senior secured rating to Ba2 from Ba1, JBS USA’s senior unsecured rating to Ba3 from Ba2
- Downgrade reflects increased risks related to potential future litigation cases, governance of the company, and liquidity, on which there is currently limited visibility
- Ratings of both companies were also placed under review for further downgrade
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
JBSS3 BZ (JBS SA)
Topics
Criminal Practice & Procedure
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283