S&P assigns Monsanto notes A-

Standard & Poor's said it assigned its A- senior unsecured debt rating to Monsanto Co.'s $314.49 million 5½% senior notes due 2025, which were issued in connection with the company's offer to exchange up to $400 million of its 7 3/8% senior unsecured notes due 2012.

S&P said the notes lengthen and diversify the company's debt maturities.

At the same time, S&P said it affirmed all its existing ratings on Monsanto, including the A-/A-2 corporate credit ratings. The outlook is stable.

The agency said the ratings reflect the company's strong leadership position in crop protection, seed and plant biotechnology, healthy profitability, a solid financial profile and contingent exposure to Solutia Inc.

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