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S&P assigns Dow Chemical notes BBB
Standard & Poor's said it assigned its BBB issue rating to Dow Chemical Co.'s proposed $2 billion senior unsecured notes of various maturities.
Dow’s existing ratings, including its BBB long-term corporate credit rating, are unchanged.
The outlook is stable.
Dow will use the proceeds for general corporate purposes, including the repayment of other obligations, funding pension contributions and funding capital expenditures.
S&P said the ratings reflect its assessment of the company's "strong" business risk profile, based on its position as a large, vertically integrated global chemical producer and "significant" financial risk profile, which is supported by strengthening operating earnings and cash flow generation and financial policy objectives.
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