Dow secures Moody's upgrade on strong earnings, debt reduction

11/2/2010 | Forbes

Ratings firm Moody's Investors Service upgraded Dow Chemical's debt outlook from "negative" to "stable," as the company beat analyst expectations in its latest earnings report. In its third-quarter figures, the U.S. chemical major posted adjusted earnings that more than doubled per-share profit from last year, while recording revenues of $12.87 billion. Moody's lauded Dow's debt-servicing goals and similarly increased ratings on Dow's Union Carbide unit as asbestos-liability cases continued to decline.

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