Moody's says Glencore review direction is uncertain

Moody's Investors Service said it changed the direction of the ongoing review of the ratings of Glencore International AG to direction uncertain, having previously had the ratings on review for upgrade.

Moody's said the action follows Glencore's recent announcement that it signed a definitive agreement with Canada-based Viterra Inc. pursuant to which Glencore will acquire all of the agricultural commodity trader's share capital for C$6.1 billion, to be funded out of Glencore's existing cash resources and available credit facilities.

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