Archer Daniels Midland Co. 'A' Rating Affirmed On Measures To Improve Cash Flow; Outlook Stable

Despite operating in a pronounced and prolonged industry downturn, particularly in grain merchandising and oilseed processing, agribusiness leader Archer Daniels Midland Co. (ADM) continues to maintain stable credit measures. In addition, the company is taking steps to improve cash flow generation while managing shareholder returns cautiously, keeping leverage within our expectations. We are affirming all our ratings on ADM, including the 'A' corporate credit rating. The outlook is stable, reflecting our expectations that operating conditions will modestly improve over the next two years while the company manages its capital expenditures (capex) and share repurchases more judiciously, so that credit measures slowly improve. NEW YORK (S&P Global Ratings) Nov. 10, 2017--S&P Global Ratings today affirmed all its ratings, including the 'A'

...+ Despite operating in a pronounced and prolonged industry downturn, particularly in grain merchandising and oilseed processing, agribusiness leader Archer Daniels Midland Co. (ADM) continues to maintain stable credit measures. + In addition, the company is taking steps to improve cash flow generation while managing shareholder returns cautiously, keeping leverage within our expectations. + We are affirming all our ratings on ADM, including the 'A' corporate credit rating. + The outlook is stable, reflecting our expectations that operating conditions will modestly improve over the next two years while the company manages its capital expenditures (capex) and share repurchases more judiciously, so that credit measures slowly improve. NEW YORK (S&P Global Ratings) Nov. 10, 2017--S&P Global Ratings today affirmed all its ratings, including the 'A' corporate credit rating, on Chicago-based Archer Daniels Midland Co. The outlook is stable. ADM had reported debt and securitized accounts receivable...

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