Research Update: DuPont 'A' CCR And Other Ratings Affirmed On Its Acquisition Of Danisco; All Ratings Off Watch Negative, Outlook Stable
Standard & Poors, May 2011
Abstract
U.S.-based diversified chemicals, seed, and specialty materials company DuPont is acquiring Denmark-based Danisco A/S, a producer of specialty food ingredients and industrial enzymes, for about $7 billion including assumed debt. We are affirming our 'A/A-1' ratings on DuPont and removing them from CreditWatch negative. While the transaction meaningfully increases DuPont's net debt, strong business fundamentals and prudent financial policies should permit the company to restore credit measures to appropriate levels within the next two years. On May 17, 2011, Standard & Poor's Ratings Services affirmed all its ratings on E.I. DuPont de Nemours & Co., including the 'A' corporate credit and senior unsecured debt ratings and 'A-1' commercial paper rating. We removed the ratings from CreditWatch with negative implications where...
Companies mentioned in this report are: DuPont (E.I.) De Nemours & Co.
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
DuPont (E.I.) De Nemours & Co.
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