Moody's assigns Baa3 to JBS notes

Moody's Investors Service said it assigned a Baa3 rating to the planned senior unsecured notes due 2028 and 2052 to be co-issued by JBS USA Lux SA, along with wholly owned subsidiaries JBS USA Finance, Inc. and JBS USA Food Co.

The co-issuers are indirect wholly owned subsidiaries of JBS SA rated Baa3 by Moody’s. The notes will be guaranteed by JBS SA, JBS USA Holding Lux Sarl and certain other indirect parent companies of JBS USA and each of JBS USA's wholly-owned U.S. restricted subsidiaries that guarantees the senior secured term loan, excluding Pilgrim's Pride Corp. The other ratings of JBS S.A., JBS USA and stable outlook are unchanged, the agency said.

“The transaction will have no material effect on JBS USA leverage, as net proceeds will be used mainly for liability management and general corporate purposes, while the issuance will lengthen the company's debt maturity profile,” Moody’s said in a press release.

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