Research Update: Switzerland-Based Global Commodity Trader Glencore 'BBB' Rating Kept On Watch Positive Following Viterra Acquisition Mar 12
- Language: English
- Published: March 2012
- Region: Global
TORONTO (Standard & Poor's) May 21, 2009--Standard & Poor's Ratings Services today said it affirmed its ratings, including its 'BB+' long-term corporate credit rating, on Regina, Sask.-based Viterra Inc. The outlook is positive. "The affirmation follows the company's announcement to acquire Australian grain handler ABB Grain Ltd.," said Standard & Poor's credit analyst Donald Marleau. The affirmation is predicated on the transaction being closed as currently proposed. "We believe that the ABB acquisition enhances Viterra's credit profile by strengthening its business with only a small increase in debt leverage. The acquisition expands the geographical diversity of Viterra's operations, deepens its penetration of markets in Asia, and mitigates some of the inherent seasonality of earnings and cash flow," Mr. Marleau added....
Companies mentioned in this report are: Viterra Inc.
Action: Outlook: Positive
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Research type: News
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