Salmonella Crisis May Turn Bonds of Brazil’s Biggest Foodmaker Into High-Yield Junk [Bloomberg Business News]
BRF S.A. (BRFS)
Last brf s.a. earnings: 11/11 04:01 pm
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Source: Bloomberg Business News
BRF SA ’s bonds are tumbling on speculation the Brazilian food giant will be cut to junk after this week’s food-safety scandal added to the company’s woes. The chicken producer plunged into crisis Monday after police said BRF executives conspired with laboratories to falsify test results and cover up a salmonella outbreak, the latest fallout from a food-safety investigation that threw the country’s meat industry into disarray last year. BRF was already struggling to overcome surprise losses, management changes and a shareholders dispute that included a call to have the entire board removed. “It’s on the way” to junk status, said Carlos Gribel, the head of fixed income at private investment bank Andbanc Brokerage in Miami, adding the bonds still have room to fall before becoming attractive to investors with an appetite for risk. “BRF had been facing poor results for a while, and was likely to lose its investment grade even before that scandal.” The c
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BRFS
News
- BRF filed its Annual Report on Form 20-FPR Newswire
- Is BRF (BRFS) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- 22nd Century, Coffee Holding among Consumer Staples movers [Seeking Alpha]Seeking Alpha
- Brf S.A. (NYSE: BRFS) was upgraded by analysts at The Goldman Sachs Group, Inc. from a "sell" rating to a "neutral" rating. They now have a $3.10 price target on the stock, up previously from $1.90.MarketBeat
- Brf S.A. (NYSE: BRFS) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating.MarketBeat
BRFS
Sec Filings
- 4/19/24 - Form 20-F
- 4/19/24 - Form 6-K
- 4/19/24 - Form 6-K
- BRFS's page on the SEC website