Fitch rates Archer-Daniels-Midland notes A

Fitch Ratings said it assigned an A rating to Archer-Daniels-Midland Co.'s $1 billion two-tranche three- and 30-year senior unsecured notes.

The proceeds will be used for general corporate purposes, including repaying a portion of outstanding commercial-paper debt, Fitch said.

The outlook is stable.

The company is one of the largest global agribusiness firms with leading positions in processing soybeans, wheat, oilseeds, corn and other agricultural commodities, generating long-term EBITDA of about $3.3 billion, Fitch said.

The agency said the company has substantial business profile diversification, supported by its grain processing and milling operations that generate a significant portion of the operating income.

The company also has focused on reducing earnings volatility through asset divestitures, Fitch said.

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