U.S.-based Archer Daniels Midland (ADM) announced today that it holds a 14.9% economic interest in in Australian grain handler GrainCorp Ltd. (unrated), and that it plans to pursue an acquisition of GrainCorp. Details of potential financing have not been disclosed, although there is a possibility that credit measures will weaken further if there is a significant component of debt-financing. We are placing all ratings on ADM on CreditWatch with negative implications. NEW YORK (Standard&Poor's) Oct. 19, 2012--Standard&Poor's Ratings Services placed all ratings on Decatur, Ill.-based Archer Daniels Midland Co. (ADM), including its 'A' long term corporate credit ratings and 'A-1' commercial paper rating, on CreditWatch with negative implications. ADM had approximately $10.3 billion in reported debt
