...November 8, 2021 CHICAGO (S&P Global Ratings) Nov. 8, 2021--S&P Global Ratings today assigned its 'A' issue-level rating to Minneapolis-based Cargill Inc.'s senior unsecured notes (final amounts to be determined). We expect the company to use the net proceeds from these notes for general corporate purposes. Cargill is an agribusiness leader that operates in more than 60 countries and continues to expand its global agribusiness footprint, which will likely further strengthen its market-leading positions in its core operating businesses. The company's core grain origination and commodity processing businesses benefit from the industry's high barriers to entry, given that a handful of industry leaders have already built out global footprints of sourcing, processing, and distribution assets. Cargill has benefited from an extended favorable beef processing cycle and strong global demand for grains and oilseeds that have supported healthy processing and origination margins. At the same time,...
