Fitch rates Cargill notes A

Fitch Ratings said it assigned an A rating to Cargill, Inc.'s $900 million 6.0% senior unsecured notes due Nov. 27, 2017.

The net proceeds from this offering are expected to be used largely to term out short-term debt, the agency said.

Concurrently, Fitch said it has assigned A ratings to the following recent notes issuances from Cargill's euro medium term note shelf: 10 billion yen 2.15% notes due Aug. 27, 2013 and CHF 105 million 3.75% notes due Nov. 7, 2014.

Fitch said it rates Cargill's and its subsidiaries' debt as follows: long term issuer default rating A, senior unsecured notes A, U.S. medium-term notes A, euro medium-term notes A, credit facility A, short term issuer default rating F1 and commercial paper F1.

The agency said that the ratings factor in the company's growth strategy, which likely will preclude leverage reduction in the near term.

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