Fitch affirms ADM

Fitch Ratings said it affirmed the credit ratings of Archer Daniels Midland Co. (ADM) as follows: long-term issuer default rating at A+, senior unsecured debentures A+, convertible notes A+, credit facilities A+, short-term issuer default rating F1 and commercial paper F1.

The outlook is revised to negative from stable.

The agency said that the negative outlook reflects the magnitude of company's recent acceleration of working capital usage to finance its inventories during this extended period of soaring agricultural commodity prices.

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