Sept 17 - Standard & Poor's Ratings Services today assigned its 'BBB' senior unsecured debt rating to Westchester, Ill.-based Ingredion Inc.'s proposed senior unsecured notes, which will be issued under the company's Rule 415 shelf registration. We expect the notes to total $300 million and mature in five years from date of issuance. Ingredion (formerly known as Corn Products Inc.) has indicated that it plans to use the net proceeds from this offering for general corporate purposes, including the repayment of $200 million of its outstanding indebtedness on its revolving credit facility. The ratings on Ingredion reflect our view of the company's "satisfactory" business risk profile and "intermediate" financial risk profile. Key credit factors in our business risk assessment include its position as a leading corn refiner and ingredients company, while recognizing it operates in the highly competitive starch and sweetener industry; geographic and product diversification; and the degree of earnings volatility. Our intermediate financial risk profile assessment is supported by its moderate financial policies, and by leverage that we believe will remain in the mid-2x area, despite probable modest share repurchase activity. RELATED CRITERIA AND RESEARCH -- Key Credit Factors: Criteria For Rating The Global Branded Nondurable Consumer Products Industry, April 28, 2011 -- Business Risk/Financial Risk Matrix Expanded, May 27, 2009 RATINGS LIST Ingredion Inc. Corporate credit rating BBB/Stable/-- Rating assigned Ingredion Inc. Senior unsecured $300 mil. notes due 2017 BBB Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.