Moody’s applies A2 to Cargill notes

Moody's Investors Service said it assigned an A2 rating to Cargill Inc.’s $500 million of unsecured notes due 2021.

The outlook is stable.

Proceeds will be used for general corporate purposes, which includes the paydown of commercial paper.

"Cargill is taking advantage of the low interest rate environment to reduce short term borrowings and modestly extend its maturity profile," Moody’s senior vice president John Rogers said in a news release.

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