S&P assigns BBB- to JBS notes

S&P said it assigned a BBB- issue-level rating to the planned senior unsecured notes to sold by JBS USA Lux SA, JBS USA Food Co., and JBS Luxembourg Sarl. The parent company JBS SA, rated BBB-, will guarantee the notes.

The proceeds will be used for liability management, to continue extending debt maturities and pursuing interest-cost reductions. “We expect the transaction to be leverage neutral for JBS,” S&P said in a press release.

The outlook is negative.

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