Moody's could lift Viterra

Moody's Investors Service said it placed Viterra Inc.'s Ba1 corporate family rating, Ba1 probability of default rating and Ba1 senior unsecured rating under review for upgrade following the announcement that the company signed a definitive agreement to be acquired by Glencore International AG.

The total transaction value is $6.1 billion, not including C$1.2 billion of debt to be refinanced or assumed at Viterra, Moody's said.

Closing of the transaction is subject to the approval of Viterra's shareholders and other customary closing conditions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.