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People & Business :: Companies
S&P: Dow Outlook Changed to 'Stable'
11:09 AM MST | February 2, 2010 | Vincent Valk
Standard and Poor's (S&P; New York) upgraded Dow Chemical's ratings outlook to 'stable' from 'negative,' the agency announced today. The move comes after Dow recorded profits and volume recovery in the fourth-quarter of 2009. S&P also cited Dow's repaying the Rohm and Haas bridge loan, $3.4 billion in asset sales, and cost reductions as reasons for the upgrade. The company's debt is still rated BBB-. "These actions follow Dow's fourth-quarter earnings report, which supports continued strengthening of key credit metrics, and recognize Dow's...
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