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S&P assigns Saskatchewan Wheat Pool notes B
Standard & Poor's said it assigned its B senior unsecured debt rating to Saskatchewan Wheat Pool's (SWP) C$150 million seven-year notes.
S&P said the recent upgrade on SWP by one notch to B+ reflects its much-strengthened balance sheet resulting from an extensive financial restructuring coupled with strong EBITDA contribution expected in fiscal 2006 from an above-average grain harvest experienced in the fall of 2005.
These factors are offset by the ongoing unpredictability of the annual grain harvest and relatively weak cash flow, the agency added.
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