TORONTO (Standard & Poor's) July 19, 2007--Standard & Poor's Ratings Services today said it raised the ratings, including the long-term corporate credit rating to 'BB' from 'B+', on Regina, Sask.-based Saskatchewan Wheat Pool (SWP) following its acquisition of Winnipeg, Man.-based Agricore United (AU). At the same time, all ratings on SWP were removed from CreditWatch with positive implications where they were placed April 16, 2007. The outlook is stable. The 'BB' long-term corporate credit rating on AU was removed from CreditWatch and withdrawn. In addition, Standard & Poor's assigned a 'BBB-' bank loan rating (two notches above the corporate credit rating), with a recovery rating of '1', to SWP's proposed C$600 million senior secured bank loan. The '1' recovery rating...
Companies mentioned in this report are: Viterra Inc.
Action: New Rating
Action: Outlook: Stable
Action: Removed From CreditWatch
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
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