S&P assigns Praxair notes A

Standard & Poor's said that it assigned its A senior unsecured debt rating to Praxair Inc.'s proposed $500 million of notes due 2014.

The agency said it affirmed the A long-term and A-1 short-term corporate credit ratings on the company.

The outlook remains stable.

Praxair will use proceeds to repay short-term debt, which was incurred to repay the company's 2.75% notes due 2008, and for general corporate purposes, the agency said.

"The credit quality of Praxair, a leading industrial gas producer, reflects a strong business profile, the impressive resilience of cash flows and operating margins, and solid financial ratios," said credit analyst Liley Mehta.

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