The recent announcement by Edison that it entered in exclusive negotiations on the sale of its stake of 55% of French oilseeds giant Cereol, with the US-based agri-business Corporate Bunge, has led Moody’s Investors Service to place under review with direction uncertain the Baa3 Issuer rating and Senior unsecured ratings of Cereol.
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Moody’s said that it recognises that recently Cereol has significantly improved its operating performance but insisted that an acquisition of Edison’s stake by unrated Bunge would create uncertainties that may affect the future financial structure of Cereol and its operations in an uncertain direction.
