Canadian Wheat Board -- Moody's Withdraws All Ratings on CWB following completed G3 Global Grain Group transaction

New York, August 07, 2015 -- Moody's Investors Service withdrew all ratings on Canadian Wheat Board (CWB, previously rated: Aaa, P-1, stable) following the closing of the acquisition of a 50.1% majority stake by G3 Global Grain Group, a joint venture between Bunge Canada and SALIC Canada Limited. The remaining 49.9% minority ownership interest will be held in trust for the benefit of farmers. Under the new G3 ownership, CWB is privatized, thus no longer has the Government of Canada statutory guarantee, which previously supported the Aaa, P-1 ratings. The new owners have put financing arrangements in place to fund the liquidity and commercial needs of the new entity.

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