Fitch rates Dow Chemical notes BBB

Fitch Ratings said it assigned a BBB rating to Dow Chemical Co.'s proposed $2.5 billion issuance of notes with 10- and 30-year maturities.

The outlook is stable.

The notes will be senior unsecured obligations of Dow and will rank equally with other senior unsecured obligations which comprise most of the company's $20.4 billion of debt as of Sept. 30.

Fitch said the ratings reflect Dow's position as the largest North American chemical company with approximately $57 billion of revenues in the last 12 months ending Sept. 30; its highly integrated production streams, which result in significant economies of scale and scope; and leading market positions in many commodity and specialty chemicals segments.

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