S&P: Linde outlook positive

Standard & Poor's said it revised the outlook on Linde AG to positive from stable and affirmed the BBB+ long-term and A-2 short-term corporate credit ratings.

"The outlook revision reflects our opinion that Linde is likely to maintain cash flow coverage ratios and a financial policy exceeding the levels commensurate for the BBB+ rating sustainably in the coming years, which would therefore support a higher rating," S&P analyst Tobias Mock said in a statement.

Linde's debt-to-EBITDA ratio was estimated at 2.8x as of year-end 2008.

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