S&P rates ADM notes A

Standard & Poor's said that it assigned an A rating to Archer Daniels Midland Co.'s $750 million and $1 billion of senior notes due 2021 and 2041, respectively.

The ratings on the new notes are the same as the corporate credit rating because they are considered to be senior debt obligations of the company following the remarketing, the agency said.

The company will use the proceeds from the notes for general corporate purposes, including meeting working capital requirements, funding capital expenditures and repaying debt.

The ratings on Archer Daniels Midland (A/stable/A-1) reflect a strong business risk profile, supported by the company's position as one of the world's leading agribusiness companies with major North American market positions in agricultural processing, merchandising and ethanol production, the agency added.

The ratings consider a modest financial profile characterized by a highly liquid balance sheet, the agency added.

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