Viterra Inc. 'BBB-' Ratings Remain On CreditWatch Positive Pending Acquisition By Glencore International PLC Oct 12
- Language: English
- Published: October 2012
- Region: Global
On Feb. 16, 2007, Standard & Poor's Ratings Services maintained the CreditWatch placements on Regina-based Saskatchewan Wheat Pool (SWP; B+/Watch Pos/--) and Winnipeg, Man.-based grain handler Agricore United (AU; BB/Watch Dev/--). The ratings on both companies were put on CreditWatch Nov. 8, 2006. This action follows the recommendation by AU's board of directors, upon the recommendation of a Special Committee, to reject SWP's revised hostile bid for the following reasons: the bid significantly undervalues AU, it is primarily noncash in nature, there is an uncertain synergy estimate, and there is the potential for superior proposals that could result from an ongoing strategic alternatives process currently under way at AU. SWP's revised bid includes a combination of cash and shares, with...
Companies mentioned in this report are: Viterra Inc.,Agricore United
Action: CreditWatch Update
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.,Agricore United