S&P upgrades Viterra

Standard & Poor's said it raised its long-term corporate credit rating on Viterra Inc. to BBB- from BB+ and affirmed its C$800 million secured credit facility at BBB and its unsecured bonds at BB+.

The outlook is stable.

The agency said it based the upgrade on its view that Viterra has materially enhanced its business risk profile with the acquisition of Australia-based ABB Grain Ltd. and that it will continue to finance its growth in a manner that preserves investment-grade credit measures.

The ratings on Viterra reflect its satisfactory business risk profile, which is supported by strong market positions in key grain-producing regions in Canada and Australia and more modest positions in downstream agribusiness and processing, S&P said.

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