Moody's rates DowDuPont

Moody's Investors Service said it assigned first-time issuer rating of Baa1 to DowDuPont Inc.

DowDuPont is currently the holding company for both the Dow Chemicals Co. and E.I. du Pont de Nemours and Co.

DowDuPont is expected to be renamed DuPont Inc. in 2019, Moody's explained.

Both Dow and Corteva are expected to be spun-out from DowDuPont in April and June of 2019.

Assets and businesses that will become the new company are expected to be transferred from Dow and the current DuPont operations prior to their spin-outs, Moody's said.

The outlook is stable.

DowDuPont will be a premier specialty chemicals company with high margins, strong free cash flow and end markets that should generate revenue growth well above GDP, Moody's said.

There is potential for some modest event risk if certain business segments cannot generate consistent strong growth in revenues, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.