S&P Raises Minerva

S&P has lifted Brazilian meatpacker Minerva’s ratings to BB minus from B+, it says, citing a better capital structure and liquidity improvements. Minerva is expected to pay down debt and see rising cash flows. Cattle pricing and exports remain key to the company’s positive growth, S&P notes. The outlook is stable. In January, Moody’s upgraded Minerva to B1 from B2, citing improvement in the company’s capital structure following a December BRL457m ($225m) equity issuance.