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Research Update: Saskatchewan Wheat Pool Upgraded, Off Watch On Agricore United Purchase; Secured Debt Rated Product Image

Research Update: Saskatchewan Wheat Pool Upgraded, Off Watch On Agricore United Purchase; Secured Debt Rated

  • Published: July 2007
  • Standard & Poors

Abstract
On July 19, 2007, Standard & Poor's Ratings Services 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 The 'BB' long-term corporate credit rating on AU was removed from CreditWatch and withdrawn.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 indicates an expectation of very...

Companies mentioned in this report are: Viterra Inc.,Agricore United
Action: New Rating
Action: Outlook: Stable
Action: Removed From CreditWatch
Action: Upgraded
Action: Withdrawn

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Viterra Inc.,Agricore United

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