ENGLEWOOD (S&P Global Ratings) May 12, 2025--S&P Global Ratings today assigned its 'A-' issue-level rating to the proposed senior unsecured notes issued by Corteva Inc.'s wholly owned subsidiary EIDP Inc. We view EIDP as a core subsidiary of Corteva because it accounts for essentially all of the group's operations. We expect the company will use the net proceeds from this issuance to repay its upcoming 2025 note maturity and for general corporate purposes. We based the rating on the preliminary terms and conditions of the transaction. Our 'A-' issuer credit ratings and stable outlooks on Corteva and EIDP are unchanged. The company ended 2024 with funds from operations (FFO) to debt of about 100% and debt to EBITDA of under
