S&P: VeraSun still on watch

Standard & Poor's said the July 22 announcement of the startup for VeraSun Energy Corp.'s 110 million gallon dry mill ethanol plant in Hankinson, N.D., will not immediately affect the company's B+ corporate credit rating.

The rating remains on CreditWatch with negative implications.

Due to the project-level financing of the Hankinson facility and the financial restrictions in place, the startup of the facility at recent crush spreads does not represent any significant cash flow to VeraSun, the agency noted.

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