NEW YORK (Standard&Poor's) Sept. 12, 2003--Standard&Poor's Ratings Services said today that there would be no effect on the ratings or outlook on Cargill Inc. (A+/Stable/A-1) following the company's announcement that it has submitted a bid of $385 million for Farmland Foods' pork processing business. Today, Sept. 12, 2003, was the last day interested bidders could submit bids for the pork unit. The bid will be the basis for an auction process involving all parties interested in purchasing. At this time, Smithfield Foods Inc. (BB+/Watch Neg/--) remains the only other bidder. Standard&Poor's will closely monitor the auction process for the ultimate purchase price.
