Dow Chemical (DOW) Comments on Moody's Debt, Commerical Paper Upgrade

November 2, 2012 4:00 PM EDT
The Dow Chemical Company (NYSE: DOW) announced today that Moody's Investors Service raised the Company's senior unsecured ratings to Baa2 from Baa3, and its commercial paper rating to Prime-2 from Prime-3 with a stable outlook.

“Moody's upgrade today is a clear validation of Dow's portfolio transformation, focus on execution and delivery on our commitment to strengthen our balance sheet,” commented Andrew N. Liveris, Dow’s chairman and chief executive officer. “This most recent upgrade reflects Dow's solid cash flow and sound capital structure, which we have worked hard to achieve despite the challenging economic environment over the last twelve months. It is also an indication of the long-term benefit of the Company’s well-balanced portfolio and cost advantaged feedstock position in the United States, which will drive higher and more consistent profitability going forward. Reducing debt, increasingly rewarding our shareholders, and funding prioritized growth remain our top priorities.”

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