Fitch Withdraws Rating on Marfrig's Proposed USD600 Notes

NEW YORK--()--Fitch Ratings has withdrawn the rating of 'B+/RR4' assigned to the USD600 million of proposed senior unsecured notes due in 2022 to be issued by Marfrig Holdings (Europe) B.V. and irrevocably and unconditionally guaranteed by Marfrig Global Foods S.A. (Marfrig) and by Marfrig Overseas Limited, as the bond has not been issued.

The withdrawal of the rating is the result of unfavorable market conditions in which to sell the notes.

Fitch currently rates Marfrig as follows:

Marfrig:

--Foreign & local currency IDR 'B+';

--National scale rating 'BBB+(bra)'.

Marfrig Holdings Europe B.V.:

--Foreign currency IDR 'B+';

--Notes due 2017, 2018, 2019, 2021 'B+/RR4'.

Marfrig Overseas Ltd:

--Notes due 2016, 2020 'B+/RR4'.

The Rating Outlook is Stable.

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

Applicable Criteria and Related Research:

--'Corporate Rating Methodology' (May 28, 2014).

Applicable Criteria and Related Research:

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=933096

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Contacts

Fitch Ratings
Primary Analyst
Johnny Da Silva, +1-212-908-0367
Director
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Secondary Analyst
Gisele Paolino, +55 21 4503 2624
Director
or
Committee Chairperson
Joe Bormann, CFA, +1-312-368-3349
Managing Director
or
Media Relations
Elizabeth Fogerty, New York, +1-212-908-0526
elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Johnny Da Silva, +1-212-908-0367
Director
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Secondary Analyst
Gisele Paolino, +55 21 4503 2624
Director
or
Committee Chairperson
Joe Bormann, CFA, +1-312-368-3349
Managing Director
or
Media Relations
Elizabeth Fogerty, New York, +1-212-908-0526
elizabeth.fogerty@fitchratings.com