Moody's Investors Service, ("Moody's") assigned a Baa3 rating to Nutrition & Biosciences, Inc.'s ("N&B") new senior unsecured notes. The Baa3 ratings of International Flavors & Fragrances, Inc. ("IFF") and its Prime-3 rating for commercial paper remain unchanged.
Moody's Investors Service, ("Moody's") affirmed the Baa3 ratings of International Flavors and Fragrances, Inc. ("IFF") and its Prime-3 rating for commercial paper. "The affirmation reflects the benefits of the merger with DuPont's Nutrition and Biosciences including increased scale and product offering offset by the increased leverage and credit metrics that are elevated for an investment-grade rating and challenges related to integrating the two companies," said Domenick R. Fumai, Moody's Vice President and lead analyst for IFF.
Albemarle (ALB) states that successful execution of the first project will facilitate efficient utilization of lithium brine resources.