Archer Daniels Midland Co.'s $4 Billion Euro Commercial Paper Program Assigned 'A-1' Short-Term Rating

NEW YORK (S&P Global Ratings) Sept. 17, 2018--S&P Global Ratings today assigned its 'A-1' short-term commercial paper rating to Chicago-based Archer Daniels Midland Co.'s (ADM) $4 billion euro commercial paper program. ADM is a leading global grain processor and trader with a large biofuels business (particularly in U.S. ethanol) that is slowly diversifying into more value-added food and feed ingredients. ADM has top-three market positions in oilseed processing, corn milling, and ethanol production. The company is also a leader in the production of biodiesel, soy meal, flour, and other food and feed ingredients. All of these businesses require significant capital investments and economies of scale to be competitive. ADM's network of more than 250 processing plants, close to 500 procurement

...NEW YORK (S&P Global Ratings) Sept. 17, 2018--S&P Global Ratings today assigned its 'A-1' short-term commercial paper rating to Chicago-based Archer Daniels Midland Co.'s (ADM) $4 billion euro commercial paper program. ADM is a leading global grain processor and trader with a large biofuels business (particularly in U.S. ethanol) that is slowly diversifying into more value-added food and feed ingredients. ADM has top-three market positions in oilseed processing, corn milling, and ethanol production. The company is also a leader in the production of biodiesel, soy meal, flour, and other food and feed ingredients. All of these businesses require significant capital investments and economies of scale to be competitive. ADM's network of more than 250 processing plants, close to 500 procurement facilities, and broad portfolio of barges, railcars, vessels, and truck/trailers across North America, Europe, South America, and Asia-Pacific provides scale, barriers to entry, and a strong competitive...

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