Leading competitive positions in an extensive range of products and technologies, particularly in seeds and advanced materials. Portfolio continues to evolve toward more value-added, less cyclical businesses, which should reduce but not eliminate earnings volatility. Strong product, end-market, and geographic diversity, with good positions in emerging markets. Agriculture business creates some volatility and seasonality in earnings. Stable revenue growth in the low-to-mid single-digit percentages, supported by positive GDP growth in key markets and the slow but continued recovery of the agricultural sector. Credit measures tend to dip intra-year to levels slightly weak for the rating on account of seasonality in earnings, before improving at year-end to appropriate levels, including a funds from operations (FFO)-to-total-debt ratio of 30% or stronger. The
