Moody's affirms Archer-Daniels-Midland

Moody's Investors Service said it affirmed the A2 and Prime-1 ratings of Archer-Daniels-Midland Co. following the announcement that it will acquire WILD Flavors GmbH for €2.3 billion. ADM is expected to fund the transaction with debt and cash on hand. The outlook is stable.

The announced acquisition is consistent with Moody's expectations that the company will continue to pursue international growth opportunities either through acquisitions, investments or capital projects.

The agency said the affirmation contemplates a modest increase in balance sheet debt to support the WILD acquisition and a disciplined reduction in debt following the completed merger.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.