S&P rates Air Products notes A

Standard & Poor's said it assigned an A rating to Air Products and Chemicals Inc.'s proposed $400 million senior unsecured notes due 2017.

The proceeds will be used for general corporate purposes.

The existing ratings on Air Products are unchanged, including its corporate credit rating of A and stable outlook.

The ratings reflect the company's strong business risk profile based on its position in the global industrial gas market, S&P said.

The ratings also consider its intermediate financial risk profile, which is supported by the consistency of the company's operating performance, cash flow generation and financial policy objectives, the agency said.

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