U.S.-based diversified chemicals, seed, and specialty materials company DuPont is issuing $2 billion of debt to partly finance the acquisition of Denmark-based Danisco, a producer of industrial enzymes and specialty food ingredients. The total purchase price is approximately $6.3 billion, including $500 million of assumed net debt. DuPont plans to finance the transaction with approximately $3 billion of cash on hand and the remainder with debt. We are assigning an 'A' senior unsecured debt rating to the new notes and placing the rating on CreditWatch with negative implications. All our existing ratings on DuPont remain on CreditWatch with negative implications. The transaction could result in a modest downgrade. On March 22, 2011, Standard&Poor's Ratings Services assigned an 'A'
