NEW YORK — Moody’s Investors Service on Dec. 24 announced the completion of reviews of the credit ratings of Cargill and Bunge Ltd.
Moody’s said Cargill’s A2 unsecured and Prime-1 commercial paper ratings are supported by the company’ strong liquidity and the “size and diversity of its global operations.” The company’s ratings have been boosted by the profitability of the company protein business in recent years.
A Baa3 unsecured rating at St. Louis-based Bunge is helped by what Moody’s called a conservative balance sheet with volatile operating performance in recent years as an offset. The ratings agency said it viewed a change of company leadership two years ago as a positive that should result in enhanced profitability. Performance has improved in 2020.
The periodic reviews were conducted by John Rogers, a senior vice president at the ratings agency, and Moody’s said the reviews are not an indication of whether a credit rating action is likely in the near future.