...May 11, 2023 NEW YORK (S&P Global Ratings) May 11, 2023--S&P Global Ratings today assigned its 'A-' rating to EIDP Inc.'s' proposed senior unsecured notes. EIDP is issuing the notes and is a wholly owned subsidiary of parent company, Corteva Inc. We expect the company will use the net proceeds for general corporate purposes. We based the rating on preliminary terms and conditions. Our 'A-' issuer credit rating and stable outlook on Corteva and EIDP are unchanged. For the complete issuer credit rating rationale, see our full analysis to be published after this report. With revenues of about $17 billion in 2022, Corteva Inc. is the largest U.S.-based multinational, pure-play seed and crop protection company in the world. Seed sales contributed about 50% of 2022 revenues, with the remaining 50% from crop protection. We view EIDP as a core subsidiary of Corteva given EIDP accounts for essentially all operations within the group....
