September 13, 2017 / 8:21 PM / in 10 months

Moody's cuts Bunge outlook to negative after IOI Loders deal

Sept 13 (Reuters) - Moody’s Investors Service on Wednesday revised its outlook for Bunge Ltd from stable to negative due to a “meaningful increase in debt” after the U.S. agribusiness opened a $900 million credit facility to help fund a deal to buy Malaysian palm oil producer IOI Loders Croklaan.

Moody’s maintained Bunge’s Baa2 long-term debt rating, but warned that without improved operating performance and cash flow, the company risks a downgrade to Baa3, a step above junk. (Reporting by Karl Plume in Chicago; Editing by Jonathan Oatis)

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