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Agricore United, Saskatchewan Wheat Pool Ratings Still On Watch On Revised Offer For Agricore
Standard & Poors, April 2007
TORONTO (Standard & Poor's) April 20, 2007--Standard & Poor's Ratings Services today said it maintained the CreditWatch listings on Agricore United (AU; BB/Watch Dev/--) and Saskatchewan Wheat Pool (SWP; B+/Watch Pos/--), following James Richardson International Ltd.'s (JRI) new C$1.8 billion offer for AU. The revised offer is an all-cash offer that has been deemed to at least match SWP's April 13, 2007, offer and, as such, has been accepted by AU's board of directors. "If JRI's revised bid succeeds, the new company will become private and the ratings on AU could be affirmed, raised, lowered, or withdrawn," said Standard & Poor's credit analyst Don Povilaitis. Plans for AU's publicly rated bank debt have yet to be determined. "Conversely, should any...
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.
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.
Viterra Inc.,Agricore United