S&P: Archer Daniels notes A

Standard & Poor’s said it assigned an A rating to Archer Daniels Midland Co.’s €1.1 billion senior unsecured notes, consisting of floating-rate notes due 2019 and a fixed tranche due in 2023.

The proceeds will be used to pay for notes purchased in the recently announced tender offers and for general corporate purposes, S&P said.

The company’s business risk profile is considered strong, reflecting the leading market positions and global agribusiness footprint, the agency said.

Archer Daniels is a market leader in corn sweeteners, soybean products, starches, sweeteners and wheat milling, S&P said, and is well positioned in North American ethanol production.

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