Moody's confirms Agrium

Moody's Investors Service said it confirmed Agrium Inc.'s Baa2 ratings with a stable outlook.

The ratings for United Agri Products were withdrawn as all of its existing bank facilities have been repaid, the agency said, noting that this concludes the review of Agrium and United Agri that was initiated Dec. 3, 2007 when it was announced that the two companies had entered into a definitive agreement, whereby a wholly owned subsidiary of Agrium would acquire all of the outstanding shares of United Agri.

This transaction was completed on May 7, the agency said, adding that the following factors were considered by Moody's in reaching its decision to confirm Agrium's ratings.

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