NEW YORK (S&P Global Ratings) Aug. 8, 2016--S&P Global Ratings today assigned its 'A' issue-level rating to Chicago, Ill.-based Archer Daniels Midland Co.'s (ADM's) senior unsecured notes due 2026, final amounts to be determined. We expect the company to use the net proceeds for general corporate purposes, including the repayment of commercial paper borrowings. ADM enjoys leading market positions in agribusiness, strong product diversification, and modestly improving geographic diversity. ADM's revenues historically have been tied to North American oilseed and corn processing, but we believe the company will continue to invest in expanding its global footprint and improving its overall business diversification to higher-margin food ingredient offerings, which could help reduce future volatility if the business materially grows. We expect
