Fitch Upgrades Monsanto Ratings on Better-Than-Expected Earnings Over the Past 2 Quarters
CHICAGO (AP) -- Fitch Ratings on Tuesday upgraded the long-term issuer default rating of Monsanto Co. to "A," citing the seed company's better-than-expected earnings and cash flow over the past two quarters.
The credit-rating agency also raised the company's short-term issuer default rating to "F1" from "F2" and its senior unsecured debt rating to "A" from "A-." All the ratings are investment grade.
Fitch said it expects Monsanto to continue a conservative financial strategy while growing its business through strong margins, market-share gains and earnings from acquisitions.
Shares rose 10 cents to $119.69 in morning trading.
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