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BULLETIN: Saskatchewan Wheat Pool Ratings Unaffected by Heartland Pork's CCAA Filing
Standard & Poors, April 2004
Abstract
TORONTO (Standard & Poor's) April 13, 2004--Standard & Poor's Ratings Services today said the decision by Saskatchewan Wheat Pool's (SWP; B/Stable/--) wholly owned subsidiary, Heartland Pork Management Services, to file for bankruptcy protection under the Companies' Creditors Arrangement Act (CCAA) has no effect on the ratings or outlook on SWP. The decision of several Heartland creditors, including SWP, to call loans was a function of very depressed hog industry conditions. SWP had previously announced the planned divestiture of Heartland and had taken a noncash impairment charge in the last quarter, which SWP believes to be sufficient to cover any potential future impairment related to Heartland....
Companies mentioned in this report are: Viterra Inc.
Action: Bulletin
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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