Leadership positions in an extensive range of products and technologies. Portfolio is evolving toward more value-added, less-cyclical businesses, which should reduce earnings volatility. Strong product, end-market, and geographic diversity, with good positions in emerging markets. We believe management will structure the proposed spin-off of the performance chemicals business in a way that preserves DuPont's credit quality, but details are not yet available. Recent actions show commitment to the current rating, and we currently believe an activist shareholder is unlikely to have a significant negative influence on financial policies. The outlook on DuPont (E.I.) De Nemours&Co. is stable. We believe management will strive to maintain credit measures we regard as appropriate for the intermediate financial profile, including funds from
