Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Minerva Climbs Most in Seven Weeks as S&P Upgrades Rating

May 2 (Bloomberg) -- Minerva SA, Brazil’s third-largest beef producer, advanced the most in seven weeks after Standard & Poor’s raised its credit rating by one level.

The shares gained 5.2 percent to 11.99 reais at the close of trading in Sao Paulo, the steepest one-day gain since March 13. It was the second biggest advance in the BM&FBovespa Small Cap index, which fell 0.5 percent, resuming trading after a holiday on May 1. The meatpacker’s bonds due in 2023 rose 0.59 cent to 108.03 cents on the dollar, the highest price since March 18.

S&P raised the Barretos-based company’s rating to BB-, or three levels below investment grade, after markets closed on April 30, citing its improved capital structure and liquidity levels. Minerva has increased gross margins and cash-flow generation, according to S&P.

“Cattle prices will continue to be favorable in the next two to three years, contributing to Minerva’s gradually improving credit metrics,” S&P analysts wrote in the report.

Minerva shares have gained 6.7 percent this year, while the small cap index dropped 4.1 percent.

To contact the reporter on this story: Julia Leite in New York at

To contact the editor responsible for this story: David Papadopoulos at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.