jbs

Brazil State-controlled Bank Cuts Credit Lines to JBS SA

Dan Beef, Exports/Imports, Industry News Release

A state-controlled bank in Brazil has cut credit lines to meat processor JBS SA, following the plea bargain deal in which the company’s majority owner admitted paying bribes to Brazilian politicians. Meat industry publication Meatingplace reports the bank decided to review the conditions of JBS’ credit limit, and of a loan expiring in 2018. Reuters previously reported that the Brazilian …