NEW YORK — While the company’s earnings are under considerable pressure, Archer Daniels Midland Co. still merits an A corporate credit rating, according to Standard & Poor’s. ADM’s outstanding debt as of Nov. 30 was $6.7 billion. Even with earnings under pressure, the company is expected to maintain a debt-to-EBITDA ratio of less than 2, S.&P. said.
“ADM’s revenues historically have been tied to North American oilseed and corn processing, but we believe the company will continue to invest in expanding its global footprint and improving its overall business diversification to higher-margin food ingredient offerings,” S.&P. said. “To this end, ADM has made an average of $1.1 billion in annual capital investments over the past three fiscal years, and we expect a similar level of investment to continue over the next several years.”