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Viterra Inc. CCR Affirmed At 'BB+' On Its Announcement To Acquire ABB Grain Ltd.; Outlook Positive
Standard & Poors, May 2009
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
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.