January 21, 2010 / 1:00 PM / 8 years ago

UPDATE 1-Viterra to cut short-term debt at Australian ops

* Says to cut short-term debt by C$300 mln

* Says debt reduction will occur by the end of January

TORONTO, Jan 21 (Reuters) - Canadian grain handler Viterra VT.TO said on Thursday that it intended to reduce the short-term debt of its Australian operations by C$300 million in an attempt to lower its interest expenses.

The debt reduction will occur by the end of this month, the Calgary, Alberta-based company said in a statement.

Earlier on Thursday, the company reported a small fourth-quarter loss as it grappled with weak fertilizer margins and declining commodity prices. [ID:nSGE60K0D3] (Reporting by Euan Rocha; Editing by Lisa Von Ahn)

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