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Moody's Rates Viterra Debt Ba1
REGINA - Sep 15/08 - SNS -- Viterra Inc. corporate credit rating and the rating on the Company's $300 million of public notes were assigned a Ba1 rate by Moody's Investor Services.
Moody's cited strong industry supply and demand dynamics, Viterra's solid operating earnings, the Company's focus and scale relative to other global agricultural players, low leverage and strong credit metrics, as the primary factors supporting their decision.
Dominion Bond Rating Service (DBRS) recently upgraded the rating on both Viterra's Senior Unsecured Notes and Term Credit Facility to BBB (Low) from BB (High), with a stable trend.
Standard & Poor's raised Viterra's long-term corporate credit rating from BB to BB+, with a positive outlook and increased its ratings on Viterra's Revolving Credit Facility to BBB from BBB- and the rating on the Company's Senior Unsecured Notes to BB+ from BB.
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