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Moody's Investors Service has assigned a Baa2 rating to the proposed USD notes to be issued by CNAC (HK) Finbridge Company Limited and guaranteed by China National Chemical Corporation Limited (ChemChina, Baa2 stable). CNAC (HK) Finbridge is a wholly owned subsidiary of ChemChina. The proceeds from the proposed issuance will be used to refinance ChemChina's existing indebtedness and for general corporate purposes.
Moody's Investors Sevice says that Nufarm Limited's 1H 2019 results are credit negative but its ratings are not affected. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. "Nufarm's (Ba3 stable) 1H 2019 results are credit negative, as adjusted EBITDA fell below expectations and an elevated level of working capital has resulted in higher debt", says Maurice O'Connell, a Moody's Vice President and Senior Credit Officer.
Moody's Investors Service has today affirmed Nufarm Limited's (Nufarm) corporate family rating of Ba3 and Nufarm Americas Inc.'s and Nufarm Australia Limited's backed senior unsecured ratings of B1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
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.