THE share price of agribusiness Viterra has fallen steadily this year, posting losses of 17.5 per cent in 2010, stretching its fall to 28.7 per cent since the Canadian-based group listed in September.
Last week Viterra announced the $US90.5 million ($106 million) acquisition of 21st Century Grain Processing, weeks after its $US240 million purchase of Dakota Growers Pasta Company, The Australian Financial Review reports.
The group listed last year after paying $1.6 billion for ABB Grain, which at the time was Australia's largest barley and malt exporter.
Standard and Poor's increased its rating of Viterra's planned issue of $C500 million ($559 million) in unsecured bonds to BBB-, the lowest level of investment grade, however Viterra has delayed the sale because of rising borrowing costs.
In April, Viterra sold half of its stake in domestic storage and handling venture Australian Bulk Alliance to Sumitomo.
Globally, the majority of analysts hold a "buy" recommendation for the stock, which is trading at a significant discount to consensus target price.
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