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<item><link>http://www.alacrastore.com/storecontent/ccbn/T1972389</link><guid isPermaLink="false">ccbn/T1972389</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day, everyone, and welcome to today's Agrium, Inc. conference call. Following today's remarks, we will conduct an electronic question-and-answer session. Instructions on how to pose your question will be given at that time. As a reminder, this call is being recorded. Now for opening remarks and introductions, I would like to turn the conference over to Mr. Richard Downey, Senior Director of Investor Relations. Please go ahead, sir. ...

</description><pubDate>11/5/2008 11:07:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Agrium Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Agrium Inc. Q3 2008 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">AGU</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">11:30am ET</ccbn:time><title>Agrium Inc. Q3 2008 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1972389</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/B1972389</link><guid isPermaLink="false">ccbn/B1972389</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Severity of global credit crisis has increased concerns that Co. has entered into a period of significant slowing in economic growth. ...

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sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value><sdc:value sdc:p="19">20.00000</sdc:value><sdc:value sdc:p="20">21.00000</sdc:value></sdc:g_SEQ><sdc:g_TEST><sdc:value sdc:p="0">Agrium Inc, located in</sdc:value><sdc:value sdc:p="1">Calgary, Alberta,</sdc:value><sdc:value sdc:p="2">manufactures, wholesales and</sdc:value><sdc:value sdc:p="3">retails agricultural nutrients</sdc:value><sdc:value sdc:p="4">and industrial products</sdc:value><sdc:value sdc:p="5">through three business</sdc:value><sdc:value sdc:p="6">segments: North America</sdc:value><sdc:value sdc:p="7">Wholesale, South America</sdc:value><sdc:value sdc:p="8">Wholesale and Retail. The</sdc:value><sdc:value sdc:p="9">North America and South</sdc:value><sdc:value sdc:p="10">America wholesale segments</sdc:value><sdc:value sdc:p="11">manufacture and market</sdc:value><sdc:value sdc:p="12">nitrogen, phosphate and potash</sdc:value><sdc:value sdc:p="13">fertilizers and other</sdc:value><sdc:value sdc:p="14">agricultural products and</sdc:value><sdc:value sdc:p="15">services. The retail segment</sdc:value><sdc:value sdc:p="16">sells fertilizers, chemicals,</sdc:value><sdc:value sdc:p="17">seed, custom application</sdc:value><sdc:value sdc:p="18">services and agronomic</sdc:value><sdc:value sdc:p="19">consulting to farmers. It was</sdc:value><sdc:value sdc:p="20">founded in 1931.</sdc:value></sdc:g_TEST><sdc:g_business><sdc:value sdc:p="0">Agrium Inc, located in Calgary, Alberta, manufactures,</sdc:value><sdc:value sdc:p="1">wholesales and retails agricultural nutrients and industrial</sdc:value><sdc:value sdc:p="2">products through three business segments: North America</sdc:value><sdc:value sdc:p="3">Wholesale, South America Wholesale and Retail. The North</sdc:value><sdc:value sdc:p="4">America and South America wholesale segments manufacture and</sdc:value><sdc:value sdc:p="5">market nitrogen, phosphate and potash fertilizers and other</sdc:value><sdc:value sdc:p="6">agricultural products and services. The retail segment sells</sdc:value><sdc:value sdc:p="7">fertilizers, chemicals, seed, custom application services</sdc:value><sdc:value sdc:p="8">and agronomic consulting to farmers. It was founded in 1931.</sdc:value></sdc:g_business><sdc:g_business1><sdc:value>Agrium Inc, located in Calgary, Alberta, manufactures, wholesales and retails agricultural nutrients and industrial products through three business segments: North America Wholesale, South America Wholesale and Retail. The North America and South America wholesale segments manufacture and market nitrogen, phosphate and potash fertilizers and other agricultural products and services. The retail segment sells fertilizers, chemicals, seed, custom application services and agronomic consulting to farmers. It was founded in 1931.</sdc:value></sdc:g_business1><sdc:h_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value><sdc:value sdc:p="19">20.00000</sdc:value><sdc:value sdc:p="20">21.00000</sdc:value></sdc:h_SEQ><sdc:h_TEST><sdc:value sdc:p="0">Agrium Inc, located in</sdc:value><sdc:value sdc:p="1">Calgary, Alberta,</sdc:value><sdc:value sdc:p="2">manufactures, wholesales and</sdc:value><sdc:value sdc:p="3">retails agricultural nutrients</sdc:value><sdc:value sdc:p="4">and industrial products</sdc:value><sdc:value sdc:p="5">through three business</sdc:value><sdc:value sdc:p="6">segments: North America</sdc:value><sdc:value sdc:p="7">Wholesale, South America</sdc:value><sdc:value sdc:p="8">Wholesale and Retail. The</sdc:value><sdc:value sdc:p="9">North America and South</sdc:value><sdc:value sdc:p="10">America wholesale segments</sdc:value><sdc:value sdc:p="11">manufacture and market</sdc:value><sdc:value sdc:p="12">nitrogen, phosphate and potash</sdc:value><sdc:value sdc:p="13">fertilizers and other</sdc:value><sdc:value sdc:p="14">agricultural products and</sdc:value><sdc:value sdc:p="15">services. The retail segment</sdc:value><sdc:value sdc:p="16">sells fertilizers, chemicals,</sdc:value><sdc:value sdc:p="17">seed, custom application</sdc:value><sdc:value sdc:p="18">services and agronomic</sdc:value><sdc:value sdc:p="19">consulting to farmers. It was</sdc:value><sdc:value sdc:p="20">founded in 1931.</sdc:value></sdc:h_TEST><sdc:h_business><sdc:value sdc:p="0">Agrium Inc, located in Calgary, Alberta, manufactures,</sdc:value><sdc:value sdc:p="1">wholesales and retails agricultural nutrients and industrial</sdc:value><sdc:value sdc:p="2">products through three business segments: North America</sdc:value><sdc:value sdc:p="3">Wholesale, South America Wholesale and Retail. The North</sdc:value><sdc:value sdc:p="4">America and South America wholesale segments manufacture and</sdc:value><sdc:value sdc:p="5">market nitrogen, phosphate and potash fertilizers and other</sdc:value><sdc:value sdc:p="6">agricultural products and services. The retail segment sells</sdc:value><sdc:value sdc:p="7">fertilizers, chemicals, seed, custom application services</sdc:value><sdc:value sdc:p="8">and agronomic consulting to farmers. It was founded in 1931.</sdc:value></sdc:h_business><sdc:h_business1><sdc:value>Agrium Inc, located in Calgary, Alberta, manufactures, wholesales and retails agricultural nutrients and industrial products through three business segments: North America Wholesale, South America Wholesale and Retail. The North America and South America wholesale segments manufacture and market nitrogen, phosphate and potash fertilizers and other agricultural products and services. The retail segment sells fertilizers, chemicals, seed, custom application services and agronomic consulting to farmers. It was founded in 1931.</sdc:value></sdc:h_business1><sdc:i_AFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_AFEEPCT><sdc:i_AFEETOT><sdc:value>0.00000</sdc:value></sdc:i_AFEETOT><sdc:i_ATERMFEE><sdc:value>0.00000</sdc:value></sdc:i_ATERMFEE><sdc:i_COMOUT><sdc:value>157.98000</sdc:value></sdc:i_COMOUT><sdc:i_CROSS1><sdc:value>N</sdc:value></sdc:i_CROSS1><sdc:i_CURRENCYLONG><sdc:value>Canadian Dollar</sdc:value></sdc:i_CURRENCYLONG><sdc:i_DATEANN><sdc:value>01 Oct 08</sdc:value></sdc:i_DATEANN><sdc:i_DATEANN2><sdc:value>Wed, 01 Oct 2008 00:00:00 EST</sdc:value></sdc:i_DATEANN2><sdc:i_DATEANNS><sdc:value>Date Announced: 10/01/2008</sdc:value></sdc:i_DATEANNS><sdc:i_DATEEFFS><sdc:value>Date Effective:</sdc:value></sdc:i_DATEEFFS><sdc:i_DESCR><sdc:value>Buyback</sdc:value></sdc:i_DESCR><sdc:i_DESCR1><sdc:value>Not Appl.</sdc:value></sdc:i_DESCR1><sdc:i_FEEPCT><sdc:value>0.00000</sdc:value></sdc:i_FEEPCT><sdc:i_FEETOT><sdc:value>0.00000</sdc:value></sdc:i_FEETOT><sdc:i_HOSTAFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTAFEETOT><sdc:i_HOSTENTVAL><sdc:value>11787.19200</sdc:value></sdc:i_HOSTENTVAL><sdc:i_HOSTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTFEETOT><sdc:i_HOSTPR><sdc:value>59.50000</sdc:value></sdc:i_HOSTPR><sdc:i_HOSTPRLABEL><sdc:value>Price/Share</sdc:value></sdc:i_HOSTPRLABEL><sdc:i_HOSTTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTTFEETOT><sdc:i_HOSTVALUE><sdc:value>469.997 Canadian Dollar</sdc:value></sdc:i_HOSTVALUE><sdc:i_HOSTVALUE1><sdc:value>469.99700</sdc:value></sdc:i_HOSTVALUE1><sdc:i_HOST_EQVAL><sdc:value>9401.00000</sdc:value></sdc:i_HOST_EQVAL><sdc:i_HOST_RANKVAL><sdc:value>469.997 Canadian Dollar</sdc:value></sdc:i_HOST_RANKVAL><sdc:i_HOST_RANKVAL1><sdc:value>469.99700</sdc:value></sdc:i_HOST_RANKVAL1><sdc:i_PCTACQ><sdc:value>0.00000</sdc:value></sdc:i_PCTACQ><sdc:i_PCTOWN><sdc:value>0.00000</sdc:value></sdc:i_PCTOWN><sdc:i_PR><sdc:value>55.98900</sdc:value></sdc:i_PR><sdc:i_PR_INITIAL><sdc:value>55.98900</sdc:value></sdc:i_PR_INITIAL><sdc:i_RANKVAL><sdc:value>2856.18900</sdc:value></sdc:i_RANKVAL><sdc:i_RANK_HOSTRANKVAL><sdc:value>469.997 Canadian Dollar</sdc:value></sdc:i_RANK_HOSTRANKVAL><sdc:i_RATE><sdc:value>0.94100</sdc:value></sdc:i_RATE><sdc:i_STATUS_MMC><sdc:value>N</sdc:value></sdc:i_STATUS_MMC><sdc:i_STGVAL><sdc:value>249.72700</sdc:value></sdc:i_STGVAL><sdc:i_TERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TERMFEE><sdc:i_TFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_TFEEPCT><sdc:i_TFEETOT><sdc:value>0.00000</sdc:value></sdc:i_TFEETOT><sdc:i_TTERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TTERMFEE><sdc:i_VALLIA><sdc:value>0.00000</sdc:value></sdc:i_VALLIA><sdc:i_VALNOLIA><sdc:value>442.26700</sdc:value></sdc:i_VALNOLIA><sdc:i_VALUE><sdc:value>442.26700</sdc:value></sdc:i_VALUE><sdc:j_EQVALCF><sdc:value>5.93000</sdc:value></sdc:j_EQVALCF><sdc:j_EVCF><sdc:value>7.43600</sdc:value></sdc:j_EVCF><sdc:j_EVEBIT><sdc:value>8.44000</sdc:value></sdc:j_EVEBIT><sdc:j_EVNI><sdc:value>11.13000</sdc:value></sdc:j_EVNI><sdc:j_EVSALES><sdc:value>1.59500</sdc:value></sdc:j_EVSALES><sdc:j_MPRICEBOOK><sdc:value>0.00000</sdc:value></sdc:j_MPRICEBOOK><sdc:j_PHELD><sdc:value>0.00000</sdc:value></sdc:j_PHELD><sdc:j_PSOUGHT><sdc:value>5.00000</sdc:value></sdc:j_PSOUGHT><sdc:j_RANKVALCF><sdc:value>5.93000</sdc:value></sdc:j_RANKVALCF><sdc:j_RANKVALEB><sdc:value>6.73100</sdc:value></sdc:j_RANKVALEB><sdc:j_RANKVALNA><sdc:value>2.29700</sdc:value></sdc:j_RANKVALNA><sdc:j_RANKVALNI><sdc:value>8.87600</sdc:value></sdc:j_RANKVALNI><sdc:j_RANKVALSALES><sdc:value>1.27200</sdc:value></sdc:j_RANKVALSALES><sdc:j_VALEB><sdc:value>1.51800</sdc:value></sdc:j_VALEB><sdc:j_VALNI><sdc:value>8.87600</sdc:value></sdc:j_VALNI><sdc:j_VALSALES><sdc:value>1.27200</sdc:value></sdc:j_VALSALES><sdc:m_AMV><sdc:value>0.00000</sdc:value></sdc:m_AMV><sdc:m_CF3YGR><sdc:value>6.12200</sdc:value></sdc:m_CF3YGR><sdc:m_CF5YGR><sdc:value>9.45500</sdc:value></sdc:m_CF5YGR><sdc:m_DCR><sdc:value>0.25300</sdc:value></sdc:m_DCR><sdc:m_ENTVAL><sdc:value>11091.73600</sdc:value></sdc:m_ENTVAL><sdc:m_EPS3YGR><sdc:value>16.09900</sdc:value></sdc:m_EPS3YGR><sdc:m_EPS5YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS5YGR><sdc:m_LTD><sdc:value>1617.02900</sdc:value></sdc:m_LTD><sdc:m_MV><sdc:value>0.00000</sdc:value></sdc:m_MV><sdc:m_NETASS><sdc:value>4010.15300</sdc:value></sdc:m_NETASS><sdc:m_NETASS3YGR><sdc:value>51.94800</sdc:value></sdc:m_NETASS3YGR><sdc:m_NETASS5YGR><sdc:value>31.36300</sdc:value></sdc:m_NETASS5YGR><sdc:m_NI3YGR><sdc:value>17.06500</sdc:value></sdc:m_NI3YGR><sdc:m_NI5YGR><sdc:value>0.00000</sdc:value></sdc:m_NI5YGR><sdc:n_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value></sdc:n_SEQ><sdc:n_SYNOPSIS><sdc:value sdc:p="0">CANADA - In October 2008, the</sdc:value><sdc:value sdc:p="1">board of Agrium Inc (AI), a</sdc:value><sdc:value sdc:p="2">manufacturer, wholesaler and</sdc:value><sdc:value sdc:p="3">retailer of agricultural</sdc:value><sdc:value sdc:p="4">nutrients and industrial</sdc:value><sdc:value sdc:p="5">products, authorized the</sdc:value><sdc:value sdc:p="6">repurchase of up to 7.899 mil</sdc:value><sdc:value sdc:p="7">common shares, or about 5% of</sdc:value><sdc:value sdc:p="8">the company's common stock</sdc:value><sdc:value sdc:p="9">outstanding, through a normal</sdc:value><sdc:value sdc:p="10">course issuer bid. Based on</sdc:value><sdc:value sdc:p="11">AI's closing stock price of</sdc:value><sdc:value sdc:p="12">59.5 Canadian dollars ($55.899</sdc:value><sdc:value sdc:p="13">US) on September 30, the last</sdc:value><sdc:value sdc:p="14">full trading prior to the</sdc:value><sdc:value sdc:p="15">announcement of the board's</sdc:value><sdc:value sdc:p="16">approval, the buyback had an</sdc:value><sdc:value sdc:p="17">indicated value of up to</sdc:value><sdc:value sdc:p="18">C$469.997 mil ($442.267 mil).</sdc:value></sdc:n_SYNOPSIS><sdc:n_synopsis2><sdc:value>CANADA - In October 2008, the board of Agrium Inc (AI), a manufacturer, wholesaler and retailer of agricultural nutrients and industrial products, authorized the repurchase of up to 7.899 mil common shares, or about 5% of the company's common stock outstanding, through a normal course issuer bid. Based on AI's closing stock price of 59.5 Canadian dollars ($55.899 US) on September 30, the last full trading prior to the announcement of the board's approval, the buyback had an indicated value of up to C$469.997 mil ($442.267 mil).</sdc:value></sdc:n_synopsis2><sdc:n_synopsis3><sdc:value sdc:p="0">CANADA - In October 2008, the board of Agrium Inc (AI), a manufacturer, wholesaler and</sdc:value><sdc:value sdc:p="1">retailer of agricultural nutrients and industrial products, authorized the repurchase of</sdc:value><sdc:value sdc:p="2">up to 7.899 mil common shares, or about 5% of the company's common stock outstanding,</sdc:value><sdc:value sdc:p="3">through a normal course issuer bid. Based on AI's closing stock price of 59.5 Canadian</sdc:value><sdc:value sdc:p="4">dollars ($55.899 US) on September 30, the last full trading prior to the announcement of</sdc:value><sdc:value sdc:p="5">the board's approval, the buyback had an indicated value of up to C$469.997 mil ($442.267</sdc:value><sdc:value sdc:p="6">mil).</sdc:value></sdc:n_synopsis3><sdc:n_synopsis4><sdc:value sdc:p="0">CANADA - In October 2008, the board of Agrium Inc (AI), a manufacturer, wholesaler and retailer of agricultural nutrients and industrial products, authorized the repurchase of up to 7.899 mil common</sdc:value><sdc:value sdc:p="1">shares, or about 5% of the company's common stock outstanding, through a normal course issuer bid. Based on AI's closing stock price of 59.5 Canadian dollars ($55.899 US) on September 30, the last</sdc:value><sdc:value sdc:p="2">full trading prior to the announcement of the board's approval, the buyback had an indicated value of up to C$469.997 mil ($442.267 mil).</sdc:value></sdc:n_synopsis4><sdc:n_synopsis5><sdc:value sdc:p="0">CANADA - In October 2008, the board of Agrium Inc (AI), a manufacturer, wholesaler and retailer of agricultural nutrients and industrial</sdc:value><sdc:value sdc:p="1">products, authorized the repurchase of up to 7.899 mil common shares, or about 5% of the company's common stock outstanding, through a</sdc:value><sdc:value sdc:p="2">normal course issuer bid. Based on AI's closing stock price of 59.5 Canadian dollars ($55.899 US) on September 30, the last full trading</sdc:value><sdc:value sdc:p="3">prior to the announcement of the board's approval, the buyback had an indicated value of up to C$469.997 mil ($442.267 mil).</sdc:value></sdc:n_synopsis5><sdc:q_DESCR><sdc:value>Intended</sdc:value></sdc:q_DESCR><sdc:q_HOSTANETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTANETASS><sdc:q_HOSTANILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTANILTM><sdc:q_HOSTASALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTASALESLTM><sdc:q_HOSTATASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTATASS><sdc:q_HOSTBOOKVALUE><sdc:value>24.98000</sdc:value></sdc:q_HOSTBOOKVALUE><sdc:q_HOSTCASHFLOW><sdc:value>1585.24400</sdc:value></sdc:q_HOSTCASHFLOW><sdc:q_HOSTCASHFLOW1><sdc:value>867.59700</sdc:value></sdc:q_HOSTCASHFLOW1><sdc:q_HOSTCASHFLOW2><sdc:value>414.85700</sdc:value></sdc:q_HOSTCASHFLOW2><sdc:q_HOSTCASHFLOW3><sdc:value>770.39100</sdc:value></sdc:q_HOSTCASHFLOW3><sdc:q_HOSTCASHFLOW4><sdc:value>749.81800</sdc:value></sdc:q_HOSTCASHFLOW4><sdc:q_HOSTCASHFLOW5><sdc:value>604.47000</sdc:value></sdc:q_HOSTCASHFLOW5><sdc:q_HOSTCOMMONEQUITY><sdc:value>3946.78600</sdc:value></sdc:q_HOSTCOMMONEQUITY><sdc:q_HOSTEBITLTM><sdc:value>1396.54500</sdc:value></sdc:q_HOSTEBITLTM><sdc:q_HOSTEPS1><sdc:value>3.48300</sdc:value></sdc:q_HOSTEPS1><sdc:q_HOSTEPS2><sdc:value>0.28300</sdc:value></sdc:q_HOSTEPS2><sdc:q_HOSTEPS3><sdc:value>2.58400</sdc:value></sdc:q_HOSTEPS3><sdc:q_HOSTEPS4><sdc:value>2.63700</sdc:value></sdc:q_HOSTEPS4><sdc:q_HOSTEPS5><sdc:value>-0.34700</sdc:value></sdc:q_HOSTEPS5><sdc:q_HOSTEPSLTM><sdc:value>6.95100</sdc:value></sdc:q_HOSTEPSLTM><sdc:q_HOSTNETASS><sdc:value>4092.36000</sdc:value></sdc:q_HOSTNETASS><sdc:q_HOSTNETASS1><sdc:value>3168.44800</sdc:value></sdc:q_HOSTNETASS1><sdc:q_HOSTNETASS2><sdc:value>1435.21200</sdc:value></sdc:q_HOSTNETASS2><sdc:q_HOSTNETASS3><sdc:value>1372.32800</sdc:value></sdc:q_HOSTNETASS3><sdc:q_HOSTNETASS4><sdc:value>1351.20000</sdc:value></sdc:q_HOSTNETASS4><sdc:q_HOSTNETASS5><sdc:value>1064.02400</sdc:value></sdc:q_HOSTNETASS5><sdc:q_HOSTNI1><sdc:value>468.31100</sdc:value></sdc:q_HOSTNI1><sdc:q_HOSTNI2><sdc:value>37.30300</sdc:value></sdc:q_HOSTNI2><sdc:q_HOSTNI3><sdc:value>341.72500</sdc:value></sdc:q_HOSTNI3><sdc:q_HOSTNI4><sdc:value>356.81000</sdc:value></sdc:q_HOSTNI4><sdc:q_HOSTNI5><sdc:value>-29.11400</sdc:value></sdc:q_HOSTNI5><sdc:q_HOSTNILTM><sdc:value>1059.07900</sdc:value></sdc:q_HOSTNILTM><sdc:q_HOSTPTINC1><sdc:value>684.94500</sdc:value></sdc:q_HOSTPTINC1><sdc:q_HOSTPTINC2><sdc:value>10.17400</sdc:value></sdc:q_HOSTPTINC2><sdc:q_HOSTPTINC3><sdc:value>544.58700</sdc:value></sdc:q_HOSTPTINC3><sdc:q_HOSTPTINC4><sdc:value>532.62900</sdc:value></sdc:q_HOSTPTINC4><sdc:q_HOSTPTINC5><sdc:value>-58.22900</sdc:value></sdc:q_HOSTPTINC5><sdc:q_HOSTPTINCLTM><sdc:value>1560.16700</sdc:value></sdc:q_HOSTPTINCLTM><sdc:q_HOSTSALES1><sdc:value>5596.37100</sdc:value></sdc:q_HOSTSALES1><sdc:q_HOSTSALES2><sdc:value>4739.76700</sdc:value></sdc:q_HOSTSALES2><sdc:q_HOSTSALES3><sdc:value>3977.53800</sdc:value></sdc:q_HOSTSALES3><sdc:q_HOSTSALES4><sdc:value>3668.93800</sdc:value></sdc:q_HOSTSALES4><sdc:q_HOSTSALES5><sdc:value>3464.61400</sdc:value></sdc:q_HOSTSALES5><sdc:q_HOSTSALESLTM><sdc:value>7388.52800</sdc:value></sdc:q_HOSTSALESLTM><sdc:q_HOSTTASS><sdc:value>10117.90200</sdc:value></sdc:q_HOSTTASS><sdc:q_HOSTTASS1><sdc:value>5792.28800</sdc:value></sdc:q_HOSTTASS1><sdc:q_HOSTTASS2><sdc:value>3774.85200</sdc:value></sdc:q_HOSTTASS2><sdc:q_HOSTTASS3><sdc:value>3213.34100</sdc:value></sdc:q_HOSTTASS3><sdc:q_HOSTTASS4><sdc:value>3158.40000</sdc:value></sdc:q_HOSTTASS4><sdc:q_HOSTTASS5><sdc:value>2945.83100</sdc:value></sdc:q_HOSTTASS5><sdc:q_STATUS><sdc:value>Status:Intended</sdc:value></sdc:q_STATUS><sdc:r_CURR_CODE><sdc:value>C</sdc:value></sdc:r_CURR_CODE><sdc:r_PE><sdc:value>8.56000</sdc:value></sdc:r_PE><sdc:r_PE_PRINT><sdc:value>8.560</sdc:value></sdc:r_PE_PRINT><sdc:r_PFTMARG><sdc:value>0.21100</sdc:value></sdc:r_PFTMARG><sdc:r_PRICEBOOK><sdc:value>2.38200</sdc:value></sdc:r_PRICEBOOK><sdc:r_PRICEBOOK_PRINT><sdc:value>2.382</sdc:value></sdc:r_PRICEBOOK_PRINT><sdc:r_PTINC3YGR><sdc:value>12.14900</sdc:value></sdc:r_PTINC3YGR><sdc:r_PTINC5YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC5YGR><sdc:r_ROE><sdc:value>26.83400</sdc:value></sdc:r_ROE><sdc:r_SALES3YGR><sdc:value>18.61700</sdc:value></sdc:r_SALES3YGR><sdc:r_SALES5YGR><sdc:value>12.73600</sdc:value></sdc:r_SALES5YGR><sdc:r_SE><sdc:value>3867.50300</sdc:value></sdc:r_SE><sdc:r_TASS3YGR><sdc:value>34.26000</sdc:value></sdc:r_TASS3YGR><sdc:r_TASS5YGR><sdc:value>18.41600</sdc:value></sdc:r_TASS5YGR><sdc:r_TTCFMULT><sdc:value>5.93000</sdc:value></sdc:r_TTCFMULT><sdc:r_TTEBITMULT><sdc:value>6.73100</sdc:value></sdc:r_TTEBITMULT><sdc:r_VALNA><sdc:value>2.29700</sdc:value></sdc:r_VALNA><sdc:sic_SIC><sdc:value sdc:p="0">2819:Industrial inorganic chemicals, nec</sdc:value><sdc:value sdc:p="1">2873:Nitrogenous fertilizers</sdc:value><sdc:value sdc:p="2">2874:Phosphatic fertilizers</sdc:value><sdc:value sdc:p="3">5191:Farm supplies</sdc:value><sdc:value sdc:p="4">5261:Retail nurseries, lawn and garden supply stores</sdc:value></sdc:sic_SIC><sdc:upa_UPACIDGEN><sdc:value>150976002</sdc:value></sdc:upa_UPACIDGEN><sdc:upa1_EXCHANGE><sdc:value>Toronto</sdc:value></sdc:upa1_EXCHANGE><sdc:upa1_NATION><sdc:value>Canada</sdc:value></sdc:upa1_NATION><sdc:upa1_SICP><sdc:value>2819</sdc:value></sdc:upa1_SICP><sdc:upa1_STATE><sdc:value>Foreign</sdc:value></sdc:upa1_STATE><sdc:upa1_STATUS><sdc:value>Public</sdc:value></sdc:upa1_STATUS><sdc:upa1_TICKER><sdc:value>AGU</sdc:value></sdc:upa1_TICKER><sdc:upsic_SIC><sdc:value sdc:p="0">2819:Industrial inorganic chemicals, nec</sdc:value><sdc:value sdc:p="1">2873:Nitrogenous fertilizers</sdc:value><sdc:value sdc:p="2">2874:Phosphatic fertilizers</sdc:value><sdc:value sdc:p="3">5191:Farm supplies</sdc:value><sdc:value sdc:p="4">5261:Retail nurseries, lawn and garden supply stores</sdc:value></sdc:upsic_SIC><sdc:upt_UPTCIDGEN><sdc:value>150976002</sdc:value></sdc:upt_UPTCIDGEN><sdc:upt1_EXCHANGE><sdc:value>Toronto</sdc:value></sdc:upt1_EXCHANGE><sdc:upt1_NATION><sdc:value>Canada</sdc:value></sdc:upt1_NATION><sdc:upt1_SICP><sdc:value>2819</sdc:value></sdc:upt1_SICP><sdc:upt1_STATE><sdc:value>Foreign</sdc:value></sdc:upt1_STATE><sdc:upt1_STATUS><sdc:value>Public</sdc:value></sdc:upt1_STATUS><sdc:upt1_TICKER><sdc:value>AGU</sdc:value></sdc:upt1_TICKER><sdc:x_RANK1_VALUE><sdc:value>442.26700</sdc:value></sdc:x_RANK1_VALUE><sdc:x_RANK_HOSTRANKVAL><sdc:value>469.99700</sdc:value></sdc:x_RANK_HOSTRANKVAL><sdc:x_RANK_RANKVAL><sdc:value>442.26700</sdc:value></sdc:x_RANK_RANKVAL><sdc:x_rank_rankstgval><sdc:value>249.72700</sdc:value></sdc:x_rank_rankstgval></sdc:deal><category>Deal Information</category><alacra:ip>TF Mergers &amp; Acquisitions</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/674790</link><guid isPermaLink="false">spcred/674790</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest News from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><pubDate>10/2/2008 6:28:03 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><title>Bulletin: Agrium Inc. Remains Credit Neutral On Announcement Of Share Repurchase</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">674790</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Fertilizers &amp; Agricultural Chemicals</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Collateralized Debt Obligations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">TORONTO (Standard&amp;Poor's) Oct. 2, 2008--Standard&amp;Poor's Ratings Services today said that the recent announcement by Agrium Inc. (BBB/Stable/--) to repurchase 5% of its shares under a normal course issuer bid will have no effect on the corporate credit rating on the company. At the current stock price this represents about US$330 million. We expect Agrium to be able to fund the repurchase through internally generated cash flows.</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">008916</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">15101030 151010 1510 15</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Agrium Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307327</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">AGU@CN</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">NEWS</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CDO</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/cs/74361</link><guid isPermaLink="false">cs/74361</guid><cs:index_mode xmlns:cs="http://www.alacra.com/cs">norm</cs:index_mode><description> Agrium #Q## Tearsheet Fertilizer outlook remains robust in ####. Rising agriculture prices, tight global fertilizer inventories, and corn usage for bio-fuel will continue to drive demand higher. Supply for the three ingredients will...</description><cs:csid xmlns:cs="http://www.alacra.com/cs">74361</cs:csid><title>Agrium 2Q08 Tearsheet</title><cs:wcnum xmlns:cs="http://www.alacra.com/cs">447</cs:wcnum><cs:ft xmlns:cs="http://www.alacra.com/cs">Yes</cs:ft><cs:wc xmlns:cs="http://www.alacra.com/cs">C</cs:wc><cs:type xmlns:cs="http://www.alacra.com/cs">2</cs:type><cs:teartype xmlns:cs="http://www.alacra.com/cs">1</cs:teartype><cs:typew xmlns:cs="http://www.alacra.com/cs">Tearsheet</cs:typew><cs:company xmlns:cs="http://www.alacra.com/cs">1173</cs:company><cs:DS xmlns:cs="http://www.alacra.com/cs">tearsheets/premium</cs:DS><cs:industry xmlns:cs="http://www.alacra.com/cs">5</cs:industry><pubDate>9/22/2008 3:05:00 PM</pubDate><cs:price xmlns:cs="http://www.alacra.com/cs">150</cs:price><cs:docid xmlns:cs="http://www.alacra.com/cs">74361</cs:docid><category>Credit &amp; Investment Research</category><alacra:ip>CreditSights</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/cs/73539</link><guid isPermaLink="false">cs/73539</guid><cs:index_mode xmlns:cs="http://www.alacra.com/cs">norm</cs:index_mode><description> Trends In Chems: #Q## Review In #Q##, the demand slowdown and feedstock run-up were prominent themes in the economic-sensitive, energy-intensive sector.Â Â Â 

While cost inflation and in particular $###+/bbl crude dominated headlines,...</description><cs:price xmlns:cs="http://www.alacra.com/cs">150</cs:price><cs:abstract xmlns:cs="http://www.alacra.com/cs">We remain cautious on petrochemical and chlor-alkali names, due to their weak credit profiles and their particular vulnerability to decelerating demand and rising feedstock costs.</cs:abstract><cs:csid xmlns:cs="http://www.alacra.com/cs">73539</cs:csid><title>Trends In Chems: 2Q08 Review</title><cs:wcnum xmlns:cs="http://www.alacra.com/cs">8118</cs:wcnum><cs:ft xmlns:cs="http://www.alacra.com/cs">Yes</cs:ft><cs:wc xmlns:cs="http://www.alacra.com/cs">D</cs:wc><cs:type xmlns:cs="http://www.alacra.com/cs">0</cs:type><cs:typew xmlns:cs="http://www.alacra.com/cs">Article</cs:typew><cs:company xmlns:cs="http://www.alacra.com/cs">112</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">705</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">796</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">2164</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">111</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1356</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">110</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">988</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">516</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1667</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">151</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">152</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1511</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">150</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1180</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">583</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">940</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1877</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">533</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1824</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">147</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1666</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1355</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1173</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1346</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">145</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1174</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">114</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">149</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">248</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">148</cs:company><cs:DS xmlns:cs="http://www.alacra.com/cs">corp/reports</cs:DS><cs:DS xmlns:cs="http://www.alacra.com/cs">hy</cs:DS><cs:industry xmlns:cs="http://www.alacra.com/cs">5</cs:industry><cs:industry xmlns:cs="http://www.alacra.com/cs">39</cs:industry><cs:cstopic xmlns:cs="http://www.alacra.com/cs">68</cs:cstopic><cs:tw xmlns:cs="http://www.alacra.com/cs">Earnings Reports - Industrials/Consumer</cs:tw><cs:cstopic xmlns:cs="http://www.alacra.com/cs">42</cs:cstopic><cs:tw xmlns:cs="http://www.alacra.com/cs">High Yield</cs:tw><pubDate>9/18/2008 1:04:56 AM</pubDate><cs:docid xmlns:cs="http://www.alacra.com/cs">73539</cs:docid><category>Credit &amp; Investment Research</category><alacra:ip>CreditSights</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/BW-0001-28015166</link><guid isPermaLink="false">newstex/BW-0001-28015166</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> Sep. ##, #### (Business Wire) --  Four free stock picks are being made available today on Zacks.com. The industryaÂ€Â™s leading independent research firm highlights one Zacks ## Rank Strong Buy or a Zacks ## Rank Buy stock for each of...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04009000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016018</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016001</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04011000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04011006</newstex:cat><pubDate>9/11/2008 6:46:34 PM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">Business Wire</newstex:Publication><title>Zacks Releases Four Powerful ''Buy'' Stocks: Warnaco Group, SPX Corporation, Urban Outfitters and Agrium</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">BW-0001-28015166</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">AGRIUM INC</newstex:index_entry_company><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">SPX CORP</newstex:index_entry_company><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">URBAN OUTFITTERS INC</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">AGU</newstex:index_entry_ticker><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">SPW</newstex:index_entry_ticker><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">URBN</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/670658</link><guid isPermaLink="false">spcred/670658</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest News from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><pubDate>9/11/2008 1:18:07 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><title>Agrium Inc.'s US$500 Million Debentures Rated 'BBB'</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">670658</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Fertilizers &amp; Agricultural Chemicals</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Collateralized Debt Obligations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">TORONTO (Standard&amp;Poor's) Sept. 11, 2008--Standard&amp;Poor's Ratings Services yesterday assigned its 'BBB' debt rating to Agrium Inc.'s proposed issuance of US$500 million debentures due January 2019. The notes will rank pari passu with the company's other senior unsecured debt. We don't expect this debt issuance to have any effect on the company's leverage because proceeds from the notes will be used to pay down part of bridge financing that was needed to acquire UAP Holdings Corp. (not rated). Ratings List Agrium Inc. Corporate credit rating BBB/Stable/-- Rating Assigned US$500 mil. 6.75% debenture due 01/15/2019 BBB</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">008916</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">15101030 151010 1510 15</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Agrium Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307327</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">AGU@CN</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">NEWS</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CDO</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/94497</link><guid isPermaLink="false">spcred/94497</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">pubfin</spcred:dataset><pubDate>8/22/2008 3:02:58 AM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><title>Hybrid Debt Preferred Stock Issues Re-Rated</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">94497</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Fertilizers &amp; Agricultural Chemicals</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Public Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Financial Institutions</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Utilities</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Collateralized Debt Obligations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Asset-Backed Securities</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Real Estate Companies</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Commercial MBS</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Electric</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Metals &amp; Mining</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Consumer Products</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Health Care</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">NEW YORK (Standard&amp;Poor's CreditWire) Feb. 23, 1999Â–-As announced last week, Standard&amp;Poor's Ratings has implemented a single credit rating scale for both debt and preferred stock. As a result, Standard&amp;Poor's is re-rating all the preferred stock issues and similar debt/equity hybrid issues that carry ratings from Standard&amp;Poor's to conform to the new scale. Standard&amp;Poor's today is issuing a series of press releases that provide the new ratings for specific preferred stock issues. The press releases will list each entity, its preferred stock issue(s), and the new rating(s) in alphabetical order under the following categories: banks, insurance companies, real estate investment trusts (REITs), utilities, and all other corporate entities. Preferred stock ratings</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">008916</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">15101030 151010 1510 15</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Agrium Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307327</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker 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xmlns:spcred="http://www.alacra.com/spcred">73650X</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">73651H</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">766889</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">87425Z</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">893526</spcred:index_entry_seccusip><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">35202010 352020 3520 35</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">15104020 151040 1510 15</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">10102010 101020 1010 10</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">15101010 151010 1510 15</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">10102040 101020 1010 10</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">55101010 551010 5510 55</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">55103010 551030 5510 55</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">10102020 101020 1010 10</spcred:index_entry_secgics><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Appalachian Power Co.</spcred:index_entry_secissuer><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Arizona Public Service Co.</spcred:index_entry_secissuer><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Carolina Power&amp;Light Co. d/b/a Progress Energy Carolinas Inc.</spcred:index_entry_secissuer><spcred:index_entry_secissuer 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xmlns:spcred="http://www.alacra.com/spcred">AEP5</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">PPW</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">POR</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">PIN1</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">SCE1</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">AYP3</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">AEP8</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">5443Z</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">TRP@CN</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">TLM@CN</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">NCX@CN</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">ROM@CN</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">1@HK</spcred:index_entry_secticker><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">PUBFIN</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">FI</spcred:index_entry_sector><spcred:index_entry_sector 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xmlns:spcred="http://www.alacra.com/spcred">Consumer</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Health</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/B1879655</link><guid isPermaLink="false">ccbn/B1879655</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...This was due both to acquisition of UAP's retail business and ##% increase in EBITDA from legacy operations over #Q##. ...

</description><pubDate>8/6/2008 3:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Agrium Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Edited</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Agrium Inc. Q2 2008 Earnings Conference Call Summary</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">AGU</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">11:30am ET</ccbn:time><title>Agrium Inc. Q2 2008 Earnings Conference Call Summary</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Brief</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">B1879655</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1879655</link><guid isPermaLink="false">ccbn/T1879655</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day everyone, and welcome to today's Agrium Incorporated conference call. Following today's remarks, we will conduct an electronic question-and-answer session. Instructions on how to pose your questions will be given at that time. As a reminder, this conference is being recorded. Now for opening remarks and introductions, I would like to turn the conference over to Mr. Richard Downey, Senior Director of Investor Relations. Please go ahead, sir. ...

</description><pubDate>8/6/2008 1:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Agrium Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Agrium Inc. Q2 2008 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">AGU</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">11:30am ET</ccbn:time><title>Agrium Inc. Q2 2008 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1879655</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/cs/72663</link><guid isPermaLink="false">cs/72663</guid><cs:index_mode xmlns:cs="http://www.alacra.com/cs">norm</cs:index_mode><description> Highly Volatile Value In The Current Environment These recommended credits are better suited to investors who have the time frame, and the risk appetite, to wait for value to emerge through volatility. MANUFACTURING
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Aerospace and...</description><cs:cstopic xmlns:cs="http://www.alacra.com/cs">42</cs:cstopic><cs:tw xmlns:cs="http://www.alacra.com/cs">High Yield</cs:tw><pubDate>8/4/2008 7:42:00 AM</pubDate><cs:price xmlns:cs="http://www.alacra.com/cs">150</cs:price><cs:abstract xmlns:cs="http://www.alacra.com/cs">These recommended credits are better suited to investors who have the time frame, and the risk appetite, to wait for value to emerge through volatility.</cs:abstract><cs:csid xmlns:cs="http://www.alacra.com/cs">72663</cs:csid><title>Highly Volatile Value In The Current Environment</title><cs:wcnum xmlns:cs="http://www.alacra.com/cs">3198</cs:wcnum><cs:ft xmlns:cs="http://www.alacra.com/cs">Yes</cs:ft><cs:wc xmlns:cs="http://www.alacra.com/cs">D</cs:wc><cs:type xmlns:cs="http://www.alacra.com/cs">0</cs:type><cs:typew xmlns:cs="http://www.alacra.com/cs">Article</cs:typew><cs:company xmlns:cs="http://www.alacra.com/cs">288</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">2107</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">50</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">915</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">112</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">61</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">2092</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">713</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">211</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1180</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">231</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">7</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1809</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">540</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">258</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1173</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">508</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">2001</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">2078</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1960</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">120</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1117</cs:company><cs:DS xmlns:cs="http://www.alacra.com/cs">strategy</cs:DS><cs:industry xmlns:cs="http://www.alacra.com/cs">29</cs:industry><cs:cstopic xmlns:cs="http://www.alacra.com/cs">89</cs:cstopic><cs:tw xmlns:cs="http://www.alacra.com/cs">Strategy Most Read Research</cs:tw><cs:docid xmlns:cs="http://www.alacra.com/cs">72663</cs:docid><category>Credit &amp; Investment Research</category><alacra:ip>CreditSights</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/658224</link><guid isPermaLink="false">spcred/658224</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Full Report from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><pubDate>7/7/2008 3:42:02 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">400</spcred:price><title>Agrium Inc.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">658224</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Fertilizers &amp; Agricultural Chemicals</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Collateralized Debt Obligations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Good product diversity and strong demand for products Competitive cost structure relative to North American peers Intermediate financial risk profile Exposure to highly volatile nitrogen industry The ratings on Calgary, Alta.-based Agrium Inc. reflect its good diversity, competitive cost structure relative to its North American peers, and intermediate financial risk profile. The ratings are offset by the company's participation in the cyclical fertilizer industry and exposure to the fragmented and highly volatile nitrogen market. Agrium is a vertically integrated fertilizer company that produces all three primary agricultural nutrients: nitrogen, potash, and phosphate; and markets fertilizer, seed, chemicals, and crop protection services through its approximately 800 retail stores in the U.S., Argentina, and Chile. It also manufactures and supplies slow-release specialty</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">008916</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">15101030 151010 1510 15</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Agrium Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307327</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">AGU@CN</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">FULL</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CDO</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/658226</link><guid isPermaLink="false">spcred/658226</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><pubDate>7/7/2008 3:42:02 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: Agrium Inc.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">658226</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Fertilizers &amp; Agricultural Chemicals</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Canada</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Collateralized Debt Obligations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The ratings on Calgary, Alta.-based Agrium Inc. reflect its good diversity, competitive cost structure relative to its North American peers, and intermediate financial risk profile. The ratings are offset by the company's participation in the cyclical fertilizer industry and exposure to the fragmented and highly volatile nitrogen market. Agrium is a vertically integrated fertilizer company that produces all three primary agricultural nutrients: nitrogen, potash, and phosphate; and markets fertilizer, seed, chemicals, and crop protection services through its approximately 800 retail stores in the U.S., Argentina, and Chile. It also manufactures and supplies slow-release specialty fertilizers, through its Advanced Technologies business unit. Agrium currently benefits from strong demand for all three primary nutrients. Record high fertilizer prices and cost-competitive production facilities</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">008916</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">15101030 151010 1510 15</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Agrium Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307327</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">CAN</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">AGU@CN</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CDO</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Chemicals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/cs/70643</link><guid isPermaLink="false">cs/70643</guid><cs:index_mode xmlns:cs="http://www.alacra.com/cs">norm</cs:index_mode><description> Trends In Chems: #Q## Review - Economy &amp; Energy Pack One-Two Punch The chemicals sector inaugurates the New Year with solid #Q## results, highlighted by aggregate sales increase and EBITDA gains of ##.#% and ##.#% year-over-year for...</description><cs:csid xmlns:cs="http://www.alacra.com/cs">70643</cs:csid><title>Trends In Chems: 1Q08 Review - Economy &amp; Energy Pack One-Two Punch</title><cs:wcnum xmlns:cs="http://www.alacra.com/cs">9525</cs:wcnum><cs:ft xmlns:cs="http://www.alacra.com/cs">Yes</cs:ft><cs:wc xmlns:cs="http://www.alacra.com/cs">D</cs:wc><cs:type xmlns:cs="http://www.alacra.com/cs">0</cs:type><cs:typew xmlns:cs="http://www.alacra.com/cs">Article</cs:typew><cs:company xmlns:cs="http://www.alacra.com/cs">110</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">988</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">112</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">705</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1877</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">149</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">111</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1356</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">796</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">151</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">583</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1511</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1667</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1180</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">516</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">940</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">150</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">152</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1369</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1824</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1666</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">533</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1355</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1173</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1346</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">145</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">114</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">248</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">1174</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">148</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">976</cs:company><cs:company xmlns:cs="http://www.alacra.com/cs">147</cs:company><cs:DS xmlns:cs="http://www.alacra.com/cs">corp</cs:DS><cs:DS xmlns:cs="http://www.alacra.com/cs">hy</cs:DS><cs:DS xmlns:cs="http://www.alacra.com/cs">corp/reports</cs:DS><cs:industry xmlns:cs="http://www.alacra.com/cs">39</cs:industry><cs:industry xmlns:cs="http://www.alacra.com/cs">5</cs:industry><cs:cstopic xmlns:cs="http://www.alacra.com/cs">42</cs:cstopic><cs:tw xmlns:cs="http://www.alacra.com/cs">High Yield</cs:tw><cs:cstopic xmlns:cs="http://www.alacra.com/cs">68</cs:cstopic><cs:tw xmlns:cs="http://www.alacra.com/cs">Earnings Reports - Industrials/Consumer</cs:tw><pubDate>6/20/2008 2:14:50 AM</pubDate><cs:price xmlns:cs="http://www.alacra.com/cs">150</cs:price><cs:abstract xmlns:cs="http://www.alacra.com/cs">With the one-two punch of a slowing economy and rising energy costs, it remains to be seen whether companies will be able recover margins in the coming quarters.</cs:abstract><cs:docid xmlns:cs="http://www.alacra.com/cs">70643</cs:docid><category>Credit &amp; Investment Research</category><alacra:ip>CreditSights</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/cs/70473</link><guid isPermaLink="false">cs/70473</guid><cs:index_mode xmlns:cs="http://www.alacra.com/cs">norm</cs:index_mode><description> Agrium #Q## Tearsheet Fertilizer outlook remains robust in ####. Rising agriculture prices, tight global fertilizer inventories, and corn usage for bio-fuel will continue to drive demand higher. Supply for the three ingredients will...</description><cs:csid xmlns:cs="http://www.alacra.com/cs">70473</cs:csid><title>Agrium 1Q08 Tearsheet</title><cs:wcnum xmlns:cs="http://www.alacra.com/cs">450</cs:wcnum><cs:ft xmlns:cs="http://www.alacra.com/cs">Yes</cs:ft><cs:wc xmlns:cs="http://www.alacra.com/cs">C</cs:wc><cs:type xmlns:cs="http://www.alacra.com/cs">2</cs:type><cs:teartype xmlns:cs="http://www.alacra.com/cs">1</cs:teartype><cs:typew xmlns:cs="http://www.alacra.com/cs">Tearsheet</cs:typew><cs:company xmlns:cs="http://www.alacra.com/cs">1173</cs:company><cs:DS xmlns:cs="http://www.alacra.com/cs">tearsheets/premium</cs:DS><cs:industry xmlns:cs="http://www.alacra.com/cs">5</cs:industry><pubDate>6/10/2008 4:06:01 PM</pubDate><cs:price xmlns:cs="http://www.alacra.com/cs">150</cs:price><cs:docid xmlns:cs="http://www.alacra.com/cs">70473</cs:docid><category>Credit &amp; Investment Research</category><alacra:ip>CreditSights</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_155105_806926770</link><guid isPermaLink="false">moodys/PR_155105_806926770</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Rating Action ## MAY ####   Rating Action: United Agri Products, Inc. Moody's confirms Baa# ratings of Agrium, Inc.; outlook stable United Agri Products ratings withdrawn New York, May ##, #### -- Moody's Investors...</description><pubDate>5/13/2008 12:31:40 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">United Agri Products, Inc.</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Agrium, Inc.</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Agrium, Inc.; United Agri Products, Inc.</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">806926770</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600020444</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><title>Moody's confirms Baa2 ratings of Agrium, Inc.; outlook stable</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_155105_806926770</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item></channel></rss>