S&P rates Air Products notes A

Standard & Poor's said it assigned its A issue-level rating to Air Products and Chemicals Inc.'s proposed $300 million senior notes due 2021.

At the same time, S&P said it affirmed its ratings, including the A corporate credit rating, on Air Products. The outlook is stable.

Air Products will use the proceeds of the note offering for general corporate purposes, according to an S&P news release.

"The ratings on Air Products reflect our view of the company's strong business risk profile, based on its position in the global industrial gas market, and intermediate financial risk profile, which account for the company's stable earnings and respectable operating margins," said S&P credit analyst Liley Mehta in a news release.

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