NY -- Standard&Poor's CreditWire 11/11/98 -- Standard&Poor's today placed the ratings of Cargill Inc. and related entities on CreditWatch with negative implications (see list below). At the same time, Standard&Poor's affirmed its ratings of Continental Grain Co. (see list below) given the increased level of support provided to its 77% owned subsidiary, ContiFinancial Corp., through the recent market turmoil in the subprime commercial and residential mortgage industry. The outlook for Continental Grain remains negative. The CreditWatch placements follow yesterday's announcement that Cargill will acquire the worldwide grain operations of Continental Grain Co. Further, Cargill has continued to experience weak operating results in its core agriculture businesses due to difficult industry conditions, as well as
