S&P assigns A to Praxair notes

Standard & Poor's said it affirmed its A long-term and A-1 short-term corporate credit ratings on Praxair, Inc.

At the same time, the agency assigned its A senior unsecured debt rating to the company's proposed €600 million notes due 2020; the notes are being drawn from an existing shelf registration.

The outlook is stable.

"We believe Praxair Inc.'s strong project backlog, increased investments in the manufacturing sector in North America, growth in the emerging markets, and productivity improvement will be the key drivers for ongoing earnings growth," S&P credit analyst Liley Mehta said in a news release.

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