S&P rates Praxair notes A

Standard & Poor's said it assigned an A senior unsecured debt rating to Praxair Inc.'s $400 million of 5¼% notes due 2014.

S&P affirmed the company's corporate credit ratings at long-term A and at short-term A-1.

The outlook remains stable.

Proceeds will be used to repay short-term debt, to fund share repurchases and for general corporate purposes.

According to S&P, the credit quality reflects a strong business profile, resilient cash flow and operating margins, and solid financial ratios.

Tempering factors are the capital intensity of the business and cyclicality of U.S. manufacturing activity, the agency said.

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