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S&P rates Praxair notes A
Standard & Poor's said it assigned a A senior debt rating to Praxair Inc.'s proposed $500 million senior notes due 2021.
The A long-term corporate credit rating and A-1 short-term rating are unchanged.
The outlook is stable.
Proceeds will be used to repay short-term debt and for general corporate purposes.
Ratings 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, the agency said.
The capital intensity of the business, numerous investment opportunities and the cyclicality of some key industrial end markets remain tempering factors, the agency noted.
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