Summary: Monsanto Co. Jan 13

Standard & Poors, January 2013

Abstract
Standard & Poor's ratings on Monsanto Co. reflect a "strong" business risk profile and "modest" financial risk profile. St. Louis, Mo.-based Monsanto is a leading global producer of seeds and herbicides including Roundup, the world's top-selling herbicide brand. Key business attributes include proprietary technology in seeds and biotechnology traits, a high degree of research and development (R&D) spending (averaging about 10% of sales, but higher the past few years), and a promising product pipeline, all of which constitute high entry barriers. Moreover, we believe that long-term trends such as population growth and improving living standards and diets should promote increasing demand for seeds and traits. Monsanto provides seeds with traits such as herbicide tolerance and resistance to pests. This permits...

Companies mentioned in this report are:
- Monsanto Co.

Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Monsanto Co.

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