Moody's: Airgas notes at Baa2

Moody's Investors Service said it assigned a Baa2 rating to $250 million of senior five-year notes to be issued by Airgas Inc.

The outlook is stable.

Proceeds from the notes offering are expected to be used general corporate purposes.

Airgas' Baa2 ratings reflect its strong financial performance, solid free cash flow generation along with the expectation that the company will not pursue additional large debt financed share buyback programs, the agency said.

The ratings are also supported by the company's leading market share in packaged gases in North America, increasing customer density due to bolt-on acquisitions and the stability of its earnings and cash flow, the agency added.

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