NEW YORK (Standard&Poor's) Feb. 15, 2007--Standard&Poor's Ratings Services said today it assigned its senior unsecured debt rating of 'A' to Archer Daniels Midland Co.'s (ADM) $1 billion convertible notes due 2014. At the same time, Standard&Poor's affirmed its 'A' long term and 'A-1' short term corporate credit ratings on the company. The outlook is stable. The notes are convertible into common stock under certain circumstances or, in lieu of common stock, into cash or a combination of cash and common stock. About $400 million of proceeds will be used for share repurchases. The remaining proceeds will be used to fund convertible note hedge transactions and for working capital and general corporate purposes. "The ratings
