Archer Daniels Midland Co.'s Senior Unsecured Notes Rated 'A'

NEW YORK (S&P Global Ratings) Sept. 7, 2021--S&P Global Ratings today assigned its 'A' issue-level rating to Chicago-based food processing and commodities trading company Archer Daniels Midland Co.'s (ADM) senior unsecured notes (final amounts and maturities to be determined). This is a leverage-neutral transaction, and we expect the company to use the net proceeds to redeem its $500 million 2.750% notes due March 27, 2025, and for general corporate purposes. 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. The company's leading market positions in agribusiness, its significant economies of scale, and its modestly improving product and geographic diversity underpin

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