...NEW YORK (S&P Global Ratings) April 17, 2018--S&P Global Ratings today assigned its 'A' issue-level rating to Cargill Inc.'s proposed senior unsecured notes (the actual amounts and maturity dates will be finalized at the transaction's closing). The company expects to use net proceeds for general corporate purposes. The company's capital structure consists primarily of senior unsecured debt obligations and a small portion of secured debt obligations (less than 10% of total debt). Based on the negligible amount of secured debt in Cargill's capital structure, the subordination risk to the company's senior unsecured debt is immaterial, and Cargill's senior unsecured debt is rated 'A', the same as the corporate credit rating. Cargill's competitive strengths include its global leadership in agribusiness, the strength of its distribution footprint, and very strong geographic diversity, which should help reduce underlying volatility in its commodity-oriented businesses (like soybean crushing and...
