S&P rates Praxair notes A

Standard & Poor's said that it assigned its A senior unsecured debt rating to Praxair Inc.'s $400 million senior unsecured notes due 2012.

Praxair will use proceeds of the note offering to repay short-term debt and for general corporate purposes.

The existing ratings on Praxair, including the A/A-1 credit rating, are unchanged.

The outlook is stable.

S&P said the ratings on Praxair reflect an excellent business profile, the impressive resilience of cash flows and operating margins and credit metrics that are consistent with the agency's expectations.

However, S&P believes the capital intensity of the business, numerous investment opportunities and the cyclicality of some key industrial end markets remain tempering factors.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.