S&P ups Louis Dreyfus Co.

S&P said it raised its ratings on Louis Dreyfus Co. to BBB from BBB- and its €650 million notes due 2025 and its €500 million senior unsecured notes due 2028 to BBB- from BB+.

Last month, the company reported its new shareholding structure had been put in place, with Abu Dhabi Holding holding a 45% indirect stake in the company.

“We view positively that LDC repaid $1.05 billion of debt in September 2021, and now has a more balanced governance structure and consistent financial policy toward dividends and acquisitions. LDC reported solid operating and financial results for first-half 2021, and will likely produce full-year results well in line with our base-case projections,” S&P said in a press release.

The outlook is stable.

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