Moody's rates Agrium notes Baa2

Moody's Investors Service said it assigned Baa2 ratings to Agrium Inc.'s proposed $500 million senior unsecured debentures and assigned provisional Baa2 ratings to the senior unsecured shelf filing from which the debentures are being issued.

The outlook is stable.

The proceeds will be used for capital expenditures and general corporate purposes.

Moody's said the Baa2 ratings reflect the ample liquidity and capital resources Agrium has maintained as a result of robust fertilizer supply/demand fundamentals.

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