S&P lifts Linde view to positive

Standard & Poor's said it revised its outlook on Linde AG to positive from stable, reflecting improvements to date in the group's credit position and further advances expected over the next 18 months.

At the same time, S&P said it affirmed its BBB+ long- and A-2 short-term corporate credit ratings in addition to the ratings on all outstanding debt of the company and its related entities.

The ratings reflect Linde's position as a leading manufacturer of industrial gases and of industrial trucks in Europe, and the ratings are underpinned in particular by the stable and cash-generative nature of the company's industrial gas business, the agency said.

However, the S&P said the ratings are constrained by the group's moderate financial profile as well as by the industry environment within the material handling division.

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