Fitch Affirms DuPont's IDR at 'A'; Outlook Stable

--Long-term IDR at 'A';

--Senior unsecured debt at 'A';

--Bank credit facility at 'A'

--Short-term IDR 'F1';

--Commercial Paper 'F1'.

The Rating Outlook is Stable.

The ratings of DuPont reflect the company's size and leading market positions, integrated operations and low cost position in all segments as well as its conservative financial strategy. DuPont is the second largest chemical company in the US based on revenues. Approximately 40% of DuPont's sales are derived from the US with rest coming from abroad. DuPont's conservative financial strategy is illustrated by its leverage relative to cash flow. Last year, Funds From Operations was more than 50% of balance sheet yearend debt and debt/EBITDA was 1.4 times (x). The leading competitive position of DuPont and its more specialty nature tends to provide more stable cash flow than the typical commodity chemical producer.

Expectations for 2008 are for sales and profits to be up, driven in part, by the growth in the Agriculture & Nutrition segment and for year-end net debt to be approximately $6 billion which is about the same as yearend 2007. Going beyond 2008, Fitch expects DuPont's earnings and cash flow to increase further over the next two to three years. Offsetting concerns include a loss of DuPont's pharmaceutical royalty revenue starting in 2010 and the company's lackluster long-term share price performance. The Stable Outlook assumes that DuPont is successful in replacing the cash flow from its pharmaceutical royalty revenue and that the company does not pursue significant shareholder friendly buybacks.

DuPont is the second largest chemical company in North America, with leading market share in a number of specialty chemical segments. The United States accounts for 40% of its sales with the balance being overseas. Chemical operations are highly integrated resulting in cost advantages across the business cycle. Business segments are agriculture & nutrition, coatings & color technologies, electronic & communication technologies, performance materials and safety & protection. In 2007, DuPont had $30.6 billion in consolidated net sales and $3.7 billion in pre-tax operating income.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. The issuer did not participate in the rating process other than through the medium of its public disclosure.

SOURCE: Fitch Ratings

Fitch Ratings Sean T. Sexton, CFA, 312-368-3130 Dennis L. Ruggles, CPA, 312-606-2318 (Chicago) Media Relations: Cindy Stoller, 212-908-0526 (New York)