S&P assigns Viterra Finance notes BBB-

S&P said it assigned its BBB- issue rating to Viterra Finance BV's planned benchmark-sized senior unsecured notes.

Viterra Finance is a wholly owned finance subsidiary of Viterra Ltd., which the agency rates BBB-. Viterra Ltd. and operating company Viterra BV will guarantee the notes. “As such, our rating on the notes is in line with our rating on Viterra Ltd.,” S&P said in a press release.

Viterra plans to use the proceeds to refinance a $1.7 billion undrawn bridge loan contracted for the signed acquisition of Gavilon and for general corporate purposes.

The outlook is stable.

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