Dow refinances debt as Moody’s raises credit rating

In an effort to push out debt maturities, Dow Chemical is issuing $2.5 billion in senior unsecured 10- and 30-year bonds. The 10-year bonds will carry an interest rate of 3%, while the 30-year bonds will have a 4.375% rate. Credit rating agency Moody’s Investors Service (New York) has rated the debt Baa2, in line with Dow’s overall corporate credit rating. Moody’s raised Dow’s rating prior to the bond issue because of “the meaningful decrease in leverage since the Rohm and Haas acquisition in 2009,” Moody’s says, and...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers