New York, June 23, 2015 -- Moody's commented that the sale of Moy Park Holdings (Europe) Limited (B1 stable) by Marfrig Global Foods S.A. (B2 stable) to JBS S.A. (Ba2 stable) for USD 1.5 billion (BRL 4.65 billion) is credit positive for Marfrig, but it does not alter the company´s ratings. Proceeds will be largely directed for debt reduction. As for JBS the acquisition is credit neutral given the company's sizeable cash position and the limited impact it will have on leverage ratios, even if it is entirely funded with debt.

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