Moody's: Bracol view negative, Vigor on review for upgrade

Moody's Investors Service said it affirmed the Ba3 ratings of Bracol Holding Ltda.'s (formerly Bertin Ltda), 77.17% owner of unrated Bertin SA, and changed the outlook to negative from stable.

The change in outlook reflects Moody's view that operating profitability could remain weak and leverage high given still high cattle prices and the potential slowing of demand from key export markets in a tough global economic environment, according to the agency.

The agency placed SA Fábrica de Produtos Alimentícios Vigor's B2 ratings under review for upgrade following Bertin's concluded acquisition of Vigor's remaining voting shares on Oct. 1, when it increased its total ownership interest in Vigor from 41.18% to 74.69%.

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