E.I. DuPont de Nemours&Co. 'A-' Issuer Credit Rating Affirmed On Spinoff And Restructuring Plan; Outlook Stable

DowDuPont Inc. has announced that its current subsidiary E.I. DuPont de Nemours&Co. (DuPont) will become a subsidiary of newly formed Corteva Inc. and that Corteva will be spun-off on June 1, 2019. Corteva will only be a parent holding company with no operations and no debt. DuPont will combine its existing agricultural business with The Dow Chemical Co.'s agriculture businesses and divest its specialty chemicals and commodity chemical businesses. We are affirming our ratings on DuPont, including the 'A-' issuer credit rating, 'A-2' short-term credit rating, and 'A-' issue-level ratings. The stable outlook reflects our expectation that DuPont will focus on integrating the Dow Chemical agriculture businesses with its own and successfully generate targeted synergies. We expect that

...+ DowDuPont Inc. has announced that its current subsidiary E.I. DuPont de Nemours & Co. (DuPont) will become a subsidiary of newly formed Corteva Inc. and that Corteva will be spun-off on June 1, 2019. Corteva will only be a parent holding company with no operations and no debt. + DuPont will combine its existing agricultural business with The Dow Chemical Co.'s agriculture businesses and divest its specialty chemicals and commodity chemical businesses. + We are affirming our ratings on DuPont, including the 'A-' issuer credit rating, 'A-2' short-term credit rating, and 'A-' issue-level ratings. + The stable outlook reflects our expectation that DuPont will focus on integrating the Dow Chemical agriculture businesses with its own and successfully generate targeted synergies. We expect that operating performance will remain steady over the next two years, supported by generally positive economic growth in key markets. NEW YORK (S&P Global Ratings) Nov. 8, 2018--S&P Global Ratings today affirmed...

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