S&P affirms ABB

Standard & Poor's said it affirmed the A long-term corporate credit rating on ABB Ltd. and all related entities.

The outlook is stable.

The action follows the company's $3.9 billion cash offer for Thomas & Betts. The deal is subject to approvals, S&P said.

The agency said it believes the proposed acquisition is logical and will not dilute ABB's already strong business risk profile.

The companies' low-voltage product portfolios would clearly complement one another and combine Thomas & Bett's electrical components with ABB's low voltage protection and control products, S&P said.

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