News Column

Fitch Publishes Latin America Protein IQ Report

June 24, 2014



NEW YORK--(BUSINESS WIRE)-- Diverse expansion strategies, growth in operating cash flow, and strong pricing and demand resulted in increased investor interest in the Latin American protein sector, according to a new special report by Fitch Ratings.

The report addresses Investors' Questions (IQ) for the sector. It covers the major players in the region and provides insight into the credit quality and rating triggers of the Latin American protein rated entities.

'Latin America protein companies are poised to have strong results in 2014,' said Johnny Da Silva, Director at Fitch. 'Rating upgrades are unlikely, however, as an expectation of improved cash flow and declining debt levels has been factored into the existing ratings of most companies.'

The report covers topics ranging from M&A activity for JBS, Minerva, Marfrig and BFR, to Brazil's protein exporter sanctions.

The full report, 'Latin American Protein IQ Report', is available on the Fitch Ratings web site at www.fitchratings.com, or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: Latin American Protein I.Q. Report

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750428

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Johnny Da Silva

Director

+1-212-908-0367

johnny.dasilva@fitchratings.com

Fitch Ratings, Inc.

33 Whitehall St.

New York, NY 10004

or

Gisele Paolino

Director

+55-21-4503-2624

gisele.paolino@fitchratings.com

or

Joe Bormann, CFA

Managing Director

+1-312-368-3349

joe.bormann@fitchratings.com

or

Media Relations

Brian Bertsch, New York, +1-212-908-0549

brian.bertsch@fitchratings.com

Source: Fitch Ratings


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