Fitch rates Cargill notes A

Fitch Ratings said it assigned an A rating to Cargill Inc.'s $450 million 4.10% senior unsecured notes due Nov. 1, 2042.

The company has a long-term issuer default rating of A, senior unsecured notes rating of A, credit facility rating of A, short-term issuer default rating of F1 and commercial-paper rating of F1.

Cargill Ltd. has a short-term issuer default rating of F1 and commercial-paper rating of F1.

Cargill Global Funding plc has a long-term issuer default rating of A, credit facility rating of A, short-term issuer default rating of F1 and commercial-paper rating of F1.

Cargill Asia Pacific Treasury Ltd. has a long-term issuer default rating of A, short-term issuer default rating of F1, credit facility rating of A and commercial-paper rating of F1.

The outlook is negative.

The proceeds will be used for general corporate purposes, including the repayment of debt at maturity.

The ratings reflect the company's competitive position as the largest agricultural company based in the United States and one of the biggest privately owned companies in the world, Fitch said.

The ratings consider Cargill's extensive geographic and product line diversification, which should lessen operating earnings volatility during most years, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.