DBRS affirms Agrium

DBRS said it confirmed the senior debt rating of Agrium Inc. at BBB with a stable trend, reflecting the company's position as one of the leading agricultural retailers in the world.

The agency said Agrium's earnings made a significant recovery in 2010 from the sharp downturn in the 2008/2009 recession, with net earnings reaching $714 million, the second highest level on record. This recovery was supported by strengthening industry fundamentals, including the rebound in crop nutrient demand and margins across all three business units (wholesale, retail and Agrium Advanced Technologies), DBRS said.

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