arcgis 10.1 - Automatically create polygons from top right and bottom left coordinates?

I have a CSV file with hundreds of records. Each record contains 2 matching coordinates, 1) top right corner of a rectangle, 2) bottom left corner of a rectangle.

Polygon ID, Lat 1,       Lat 2,       Long 1,       Long 2          
1,          27o 28' 28", 27o 33' 30", 86o 06' 04",  86o 15' 00"

Is there a method which I can use to automate the creation of these polygons? I anticipate there being a few steps.

Answer

For thoroughness, below I am providing the solution I implemented.

1. Converted coordinates to decimal degrees in Excel using a simple macro.


2. Added extra columns representing the 2 corners not present in the original file. Therefore, all 4 corners were stored in the file.


3. Added an ID field (one ID for each set of 4 points (corners).


4. Imported the CSV into ArcGIS and plotted the points.


5. Converted the points to polygons using the ID field. This resulted in the final polygon 'footprint' layer.