Archer Daniels Midland Co.'s Senior Unsecured Notes Assigned 'A' Rating

NEW YORK (S&P Global Ratings) Sept. 11, 2017--S&P Global Ratings today assigned its 'A' issue-level rating to Chicago-based Archer Daniels Midland Co.'s (ADM's) senior unsecured notes due 2047, final amounts to be determined. We expect the company to use the net proceeds for general corporate purposes, including the repayment of debt. ADM's business strength is underpinned by its leading market positions in agribusiness, strong product diversification, and modestly improving geographic diversity. 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. In addition, we estimate that about 20% of ADM's earnings are generated from higher-risk grain merchandising

...NEW YORK (S&P Global Ratings) Sept. 11, 2017--S&P Global Ratings today assigned its 'A' issue-level rating to Chicago-based Archer Daniels Midland Co.'s (ADM's) senior unsecured notes due 2047, final amounts to be determined. We expect the company to use the net proceeds for general corporate purposes, including the repayment of debt. ADM's business strength is underpinned by its leading market positions in agribusiness, strong product diversification, and modestly improving geographic diversity. 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. In addition, we estimate that about 20% of ADM's earnings are generated from higher-risk grain merchandising and commodity trading activities, albeit with less risk appetite than many of its peers. The company is exposed to inherent cyclicality in its various businesses (particularly ethanol...

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