S&P rates Air Products notes A

S&P said it assigned A ratings to Air Products & Chemicals Inc.'s proposed dollar- and euro-denominated notes.

Proceeds are expected to be used to repay current indebtedness and for general corporate purposes, including supporting its growth initiatives.

The initiatives include its planned equity investment of about $2.5 billion in the joint venture that will acquire the gasification, power and industrial gas assets at Jazan Economic City, Saudi Arabia, S&P said.

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