(Dow Jones) -- Moody's Investors Service placed Archer Daniels Midland Co. on review for a downgrade after the agriculture giant reached an agreement to acquire Australian grain exporter GrainCorp Ltd.
Moody's currently rates ADM's senior unsecured notes and debentures at A2, five notches into investment grade.
The board of GrainCorp last week accepted an improved $2.5 billion takeover offer from ADM. The acquisition would be ADM's biggest ever, and comes as it seeks to diversify its largely U.S.-focused grain business.
"ADM intends to acquire GrainCorp to improve its position in Asia and accelerate the globalization of its operations" said John ...