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Fitch warns of Bayer downgrade on Monsanto bid

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(iStock)
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Frankfurt - The international credit rating agency Fitch said on Wednesday it would likely downgrade German chemicals and pharmaceuticals giant Bayer if its goes ahead with plans to buy US agrochemicals firm Monsanto for $62bn.

"Should the transaction go ahead at the conditions offered or with a revised higher offer, Fitch will likely downgrade Bayer's ... ratings by a minimum of two notches," Fitch said in a statement.

"The acquisition would cause an increase in leverage and business risk for the combined group," it added.

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