Research Update: Saskatchewan Wheat Pool

  • ID: 1784618
  • June 2003
  • Standard & Poors
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On June 17, 2003, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Saskatchewan Wheat Pool (SWP) to 'B' from 'SD' (selective default). At the same time, the senior secured debt rating was raised to 'B' from 'D' and the ratings on the company's subordinated notes and convertible debentures were raised to 'CCC+' from 'D'. The outlook is stable. There is no notching upward of the company's secured debt; however, the company's subordinated debt instruments are notched down by two notches from the corporate credit rating. According to Standard & Poor's criteria, when secured debt accounts for a significant proportion of assets and cash flow, unsecured debt is notched down from the corporate credit rating. The ratings...

Companies mentioned in this report are: Viterra Inc.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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Viterra Inc.

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