DuPont (E.I.) De Nemours&Co. has announced its intention to increase its stock buybacks through 2016 by at least $4 billion. The company will fund the additional buybacks, which are not part of an existing repurchase program, with proceeds from the announced sale of its specialty chemical unit. We assume the buybacks will be somewhat evenly spread out across 2015 and 2016 We are affirming our ratings on DuPont, including the 'A' long-term rating based on our expectation that the company will maintain key leverage credit measures such as funds from operations (FFO) to total net debt above of 35%, while implementing its recently announced share-buyback plan. The negative outlook reflects the risk that leverage measures may weaken beyond
