Fitch rates Archer Daniels notes A

Fitch Ratings said it assigned an A rating to Archer-Daniels-Midland Co.'s (ADM) $1 billion senior unsecured notes due August 2026.

Archer Daniels intends to use the net proceeds for general corporate purposes, including the repayment of a portion of the outstanding commercial paper debt. At June 30, the company’s commercial paper debt was $1.4 billion.

The outlook is stable.

Archer Daniels is one of the largest global agribusiness firms processing soy beans, wheat, oilseeds, corn and other agricultural commodities, Fitch said. The company has focused on reducing earnings volatility through asset divestitures or improving existing asset utilization through sale of excess capacity.

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