SADIA WRITE DOWN.
Brazils second largest meat company has seen 32% wiped off the value of
the company in December, after the large losses in currency trading now
subject to numbers law suits from investors.
The company is rumored to have taken out a new line of credit, for the
12 meat plants based in Brazil as well as its global operations.
The companies credit rating has been downgrades by Moody’s to a BA3 and
by Standard and Poor, who have given them a very negative BBX rating.
The brand of Sadia is the most famous and popular brand of poultry,
throughout the Middle East and North Africa as Halal product.