DBRS Assigns Rating of BBB (low), Stable Trend to Viterra’s New Issue of $200 Million Senior Unsecured Notes

DBRS has today assigned a rating of BBB (low), with a Stable trend, to the issuance of Canadian dollar senior unsecured notes (the Notes) by Viterra Inc. (Viterra or the Company) due in 2021. Proceeds from the issuance are expected to be used to refinance existing indebtedness and for general corporate purposes.

The Notes will be senior unsecured obligations ranking equally with Viterra’s other unsecured, unsubordinated indebtedness but will be effectively subordinate to any secured indebtedness and structurally subordinate to the debt and other liabilities of Viterra’s non-guarantor subsidiaries.

Viterra may redeem the Notes prior to maturity in whole or in part at any time and from time to time at a make-whole redemption price, which would include accrued and unpaid interest, if any.

Notes:
The applicable methodology is Rating Grain Companies, which can be found on our website under Methodologies.