S&P cuts ADM to negative

Standard & Poor's said it affirmed its ratings on Archer-Daniels-Midland Co., including the A long-term and A-1 short-term corporate credit ratings.

The agency said it also revised the outlook to negative from stable.

"We believe ADM's earnings and credit measures may weaken over the next year, given the current drought across the majority of the U.S. farm belt," said S&P credit analyst Chris Johnson in a news release.

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