S&P affirms Praxair

Standard & Poor's said it assigned its A senior unsecured debt rating to Praxair Inc.'s $500 million of 2.125% notes due 2013, which are being drawn from an existing shelf registration.

Praxair will use proceeds to repay short-term debt and for general corporate purposes, the agency said, noting that it affirmed the A long-term and A-1 short-term corporate credit ratings on the company.

The outlook remains stable.

"The ratings on Praxair, a leading industrial gas producer, reflect an excellent business profile, the impressive resilience of cash flows and operating margins, and credit metrics that are consistent with expectations at the current ratings," said S&P credit analyst Liley Mehta.

© 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.