Moody's may lower Viterra

Moody's Investors Service said it placed Viterra Inc.'s Ba1 corporate family rating and other debt ratings under review for possible downgrade.

The review was prompted by the recent announcement that Viterra and ABB Grain Ltd. (unrated) have reached an agreement for Viterra to acquire ABB in a friendly transaction, the agency noted.

The transaction, valued at about A$1.6 billion, is comprised of several options that offer ABB shareholders combination of cash and shares, including a special dividend to be paid by ABB to its shareholders, the agency added.

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