NEW YORK (Standard&Poor's) Aug. 17, 2015--Standard&Poor's Ratings Services today said that its 'A' corporate credit rating on Cargill Inc. is not affected by Cargill's announced €1.35 billion acquisition of Ewos AS, a Norwegian supplier of feed and nutrition products for the aquaculture industry. We believe the size of this transaction is consistent with our expectations that the company will make ongoing medium-sized acquisitions, and continue to believe the company will maintain debt to EBITDA (adjusted for leases, pensions, and readily marketable trading inventories) below 2x. We estimate debt to EBITDA totaled just under 1.5x for the fiscal year ended May 31, 2015, and do not expect leverage to materially increase following this acquisition because the company
