S&P rates Praxair notes A

Standard & Poor's said it assigned an A senior unsecured debt rating to Praxair Inc.'s (A/stable/A-1) $500 million floating-rate notes due May 2010.

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

Ratings reflect an excellent business risk profile, the impressive resilience of cash flows and operating margins, and solid financial ratios, the agency said.

The capital intensity of the business and the cyclicality of U.S. manufacturing activity are tempering factors, the agency noted.

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