S&P: Air Products notes A

Standard & Poor's said it assigned an A rating to Air Products and Chemicals Inc.'s proposed $300 million of senior unsecured notes due 2016.

The proceeds will be used for general corporate purposes.

The agency also said it affirmed the company's A corporate credit rating and other existing ratings.

The outlook is stable.

The ratings reflect its strong business risk profile, based on its position in the global industrial gas market and a modest financial risk profile, S&P said.

The ratings also consider its stable earnings and respectable operating margins, the agency said.

These factors mitigate pricing and volume pressures as economic cycles affect various product sectors, S&P added.

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