London, 01 July 2014 -- Moody's Investors Service has today upgraded the corporate family rating (CFR) and the probability of default rating (PDR) of Campofrio Food Group, S.A.. (Campofrio, or the company) to Ba3 and Ba3-PD from B1 and B1-PD respectively. Concurrently, Moody's has upgraded to Ba3 from B1 the rating of the company's senior notes due 2016. The outlook is stable.

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