Fitch eyes Viterra positively

Fitch Ratings said its ratings for Viterra Ltd. and Viterra Finance BV, including its BBB senior unsecured ratings, on rating watch positive. The RWP follows the announcement of the company’s merger pact with Bunge Ltd.

“The RWP reflects Fitch's view that the credit profile of the combined entity will be stronger than Viterra's credit profile before the merger. The merger would create a leading global agribusiness-focused company with pro forma combined EBITDA of more than $4 billion and greater diversification across regions and commodities,” the agency said in a press release. An upgrade to BBB+ is possible.

The agency said it aims to resolve the RWP once the deal closes, which is expected in mid-2024, subject to customary closing conditions including regulatory and shareholder approvals.

© 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.