S&P gives A to Praxair notes

Standard & Poor's said it assigned its A senior unsecured debt rating to Praxair Inc.'s proposed senior unsecured notes due 2018 and add-on issuance to its existing 3.55% notes due 2042.

Praxair will use the proceeds of the note offering to repay debt, for share repurchases and for general corporate purposes.

The existing ratings on Praxair, including the A long-term corporate credit rating and A-1 short-term rating, are unchanged. The outlook is stable.

The ratings on Praxair reflect its "excellent" business risk profile and "intermediate" financial risk profile, which incorporate impressive resilience of the company's cash flows and operating margins to economic cycles, S&P said.

© 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.