Moody’s rates ADM notes A2

Moody's Investors Service said it assigned an A2 rating to Archer-Daniels-Midland Co.'s proposed $500 million to $700 million of senior unsecured notes due 2047.

The notes will be used to repay commercial paper and for general corporate purposes.

The outlook is stable.

The agency said the ratings reflect the company’s relatively conservative financial policies (as measured by balance sheet debt to net working capital), strong and diversified liquidity, its established global market position in agricultural commodities, substantial geographic diversity, as well as the projected growth in agricultural commodities trading due to demand growth in developing countries.

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