S&P: Emerson Electric outlook stable

Standard & Poor's said it revised its outlook on Emerson Electric Co. to stable from positive and affirmed the company's ratings, including the A corporate credit rating and A-1 short-term rating.

The outlook revision reflects the agency's expectation that although Emerson should maintain a credit profile consistent with the A rating, an upgrade has become less likely following the company's announcement that its board of directors has authorized the repurchase of an additional 80 million shares.

S&P said the ratings on Emerson reflect the company's strong business risk profile, its above-average liquidity and cash flow protection measures and its moderate financial policies.

Emerson's policies on acquisitions, dividends and share repurchases limit upside rating potential, the agency said.

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