S&P: Independencia on watch

Standard & Poor's said it placed its B long-term corporate credit rating on Independencia Alimentos Ltda. on CreditWatch with negative implications.

The CreditWatch placement follows the announcement by Independencia that it has reached an agreement to acquire Goiás Carnes (not rated), the agency said.

S&P noted that the CreditWatch indicates that it could potentially lower or affirm the ratings on Independencia after the completion of the acquisition, depending on the increased leverage and combined financial risk.

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