S&P alters Bunge view to stable

S&P said it affirmed all ratings on Bunge Ltd., including the BBB issuer credit rating, and revised the outlook to stable from negative.

“Bunge is having a record year in its core agribusiness segment, which benefits from strong oilseed crush and grain origination margins given healthy export demand. Agribusiness segment EBIT has increased more than 150% this year compared to last year’s first nine months,” S&P said in a press release.

The outlook reflects the forecast for continued EBITDA growth into 2021 and much lower leverage, including debt to EBITDA sustained closer to 2x over the next two years, S&P said.

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