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Research Update: UAP Holding Corp. Oct 04 Product Image

Research Update: UAP Holding Corp. Oct 04

  • Published: October 2004
  • Standard & Poors

FEATURED COMPANIES

  • ConAgra Foods Inc.
  • UAP Holding Corp.
  • United Agri Products Inc.
  • MORE

Abstract
On Oct. 29, 2004, Standard & Poor's Ratings Services placed its 'B' corporate credit rating on crop protection and agricultural products distributor United Agri Products Inc. and parent company UAP Holding Corp. on CreditWatch with positive implications (please see table). At August 29, 2004, the Greeley, Co.-based United Agri Products' had about $493 million in debt outstanding. The CreditWatch placement follows UAP Holding's announcement that it has terminated its proposed offering of Income Deposit Securities (IDS). Instead UAP Holding will pursue an initial public offering (IPO) of 23.4 million shares of common stock. It is currently anticipated that the price per share will be between $15.00 and $17.00. Proceeds from the offering will be used to repurchase the outstanding $21.5...

Companies mentioned in this report are:
- UAP Holding Corp.
- ConAgra Foods Inc.
- United Agri Products Inc.

Action: On CreditWatch: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 READ MORE >

- UAP Holding Corp.
- ConAgra Foods Inc.
- United Agri Products Inc.

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