S&P rates Air Products notes A

Standard & Poor's said it assigned an A rating to Air Products and Chemicals Inc.'s proposed €300 million senior unsecured notes due 2020.

Air Products will use proceeds of the note offering for general corporate purposes.

The company's existing ratings, including the A long-term corporate credit rating, are unchanged.

The outlook is stable.

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

The ratings also consider its intermediate financial risk profile, which is supported by the consistency of Air Products' operating performance, cash flow generation and financial policy objectives, S&P said.

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