Moody's assigns Baa2 to Dow notes

Moody's said it assigned Baa2 ratings to unsecured notes to be issued by Dow Chemical Co.

Proceeds from the new notes will be used to repay notes maturing in 2020 and for general corporate purposes, including refinancing of other debt. The outlook is stable.

“Dow is taking advantage of relatively low interest rates to refinance its term loan and other near-term maturities,” stated John Rogers, senior vice president at Moody's and lead analyst on Dow, in a news release. “Despite this issuance, we expect Dow to materially reduce debt prior to the end of 2019.”

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