New York, December 11, 2015 -- Moody's Investors Service affirmed the ratings of The Dow Chemical Company (Dow) at Baa2 following the announcement that Dow and E.I. du Pont de Nemours and Company (A3, negative) intend to merge, restructure and combine complementary operations and then split the merged company into three separate companies -- Agriculture, Material Science and Specialty Products. The companies expect to close on this transaction in the second half of 2016 subject to customary shareholder and regulatory approvals, take approximately 18 months thereafter to restructure and combine operations and then split into the three separate companies. Dow's rating outlook remains stable.

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