Moody's affirms Sadia

Moody's Investors Service said it affirmed the Ba2 global local currency scale corporate family rating of Sadia SA after the announcement of its tender offer for the acquisition of at least 50% plus one share and up to 100% of the shares of Perdigao SA.

The outlook is developing, pending the resolution of a number of uncertainties regarding the transaction.

The affirmation is based on Moody's view that at this early stage of the company's tender offer it is unclear as to the outcome of the offer and the resulting potential positive or negative impacts of a successful acquisition. As contemplated, the transaction should allow Sadia to maintain or quickly return to a credit profile and to debt protection measures appropriate for the Ba2 category, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.