Moody's gives Praxair notes A2

Moody's Investors Service said it assigned an A2 rating to $500 million of senior unsecured notes due 2018 of Praxair, Inc.

Proceeds from the notes will be used for general corporate purposes, which include repayment of commercial paper and share repurchases.

The outlook is stable.

"Praxair's credit metrics continue to be stressed due to the NuCO2 acquisition, heavy capital spending, and on-going share repurchases, which will continue through the end of 2013," Moody's senior vice president John Rogers said in a news release. "However, we expect metrics to improve through 2014 with the improvement in the global economy."

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