U.S.-based diversified chemicals company DuPont plans to acquire unrated Denmark-based Danisco, a producer of industrial enzymes and specialty food ingredients, for $6.3 billion including $500 million of assumed net debt. DuPont expects to finance the transaction with $3 billion of cash on hand and the remainder with debt. We are placing all our ratings on DuPont, including the 'A' long-term corporate credit rating and the 'A-1' commercial paper rating, on CreditWatch with negative implications. The transaction as currently structured could result in a modest downgrade. On Jan. 10, 2011, Standard&Poor's Ratings Services placed all its ratings on E.I. DuPont de Nemours&Co., including the 'A' long-term corporate credit rating and the 'A-1' commercial paper rating, on CreditWatch
