S&P Downgrades Dow, Rohm and Haas, as Deal Closes

Standard and Poor’s (S&P; New York) has downgraded Dow’s corporate credit rating to BBB- from BBB. The agency has also downgraded Rohm and Haas too BBB- from BBB. Both companies remain on CreditWatch with further downgrades possible. "We believe the transaction is an important strategic initiative for Dow and consistent with its efforts to bolster the breadth of its specialty product offerings, but it will meaningfully stretch the financial profile to a level beyond what we consider consistent with the former ratings," S&P credit...

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