Viterra Inc. CCR Affirmed At 'BB+' On Its Announcement To Acquire ABB Grain Ltd.; Outlook Positive

Standard & Poors, May 2009

Abstract
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: Affirmed
Action: Outlook: Positive

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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.

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