Fitch: Archer Daniels notes A

Fitch Ratings said it assigned an A rating to Archer Daniels Midland Co.’s €1 billion senior unsecured notes comprised of floating-rate notes due June 2019 and fixed-rate notes due June 2023.

The proceeds will be used to pay unsecured notes purchased in tender offers and for general corporate purposes, Fitch said.

The outlook is stable.

The company has a long-term issuer default rating of A, senior unsecured bank facility rating of A, senior unsecured notes rating of A, short-term issuer default rating of F1 and commercial-paper rating of F1.

The company’s EBITDA margin significantly increased to 5.4% for the latest 12 months ending March 31, 2015 from 3.4% in 2013 as it successfully executed its operating strategy, Fitch said.

© 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.