S&P: Agrium unchanged

Standard & Poor's said that the announcement by Agrium Inc. (BBB/stable) of potential delays in closing its UAP Holding Corp. (BB-/Watch positive) acquisition will not affect the ratings on Agrium.

If the U.S. Federal Trade Commission's review of the transaction progressed to the issuance of a second request it could potentially delay the closing until summer 2008, the agency said.

This means that until then, Agrium will have $1.3 billion in cash on hand, which was raised for the acquisition by issuing shares this past month, S&P noted.

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