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E.I. du Pont de Nemours and Company -- Moody's affirms DuPont's A3 ratings, changes outlook to stable

Moody's Investors Service ("Moody's") affirmed the A3 and Prime-2 ratings of E.I. du Pont de Nemours and Company (DuPont) and changed the outlook on the ratings to stable from negative. The action is in response to the company's disclosure of its plan for the balance sheet of DuPont, which is expected to become wholly owned by a new legal entity, Corteva, Inc. On June 1st, 2019, Corteva Inc. (Corteva) is expected to be spun off from DowDuPont, and any existing rated debt of DuPont will become the obligations of Corteva. "The change in outlook reflects a commitment to a more conservative financial policy with minimal long term debt" according to Joseph Princiotta, Moody's Senior Analyst for DuPont.