S&P rates NBM US notes BB-

S&P said it rated NBM US Holdings Inc.’s proposed senior unsecured notes BB- with a 3 recovery rating, which indicates a meaningful expectation of 50%-70% recovery (rounded estimate 50%) in an event of default.

Proceeds will be used by parent company Marfrig Global Foods SA to fund the Marfrig Green Project, which involves buying cattle from selected ranchers that comply with the company’s environmental and social standards.

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