S&P assigns A to Air Products notes

Standard & Poor’s said it assigned its A issue rating to Air Products & Chemicals Inc.’s proposed $400 million senior unsecured notes due 2024.

The existing ratings on Air Products, including the A long-term corporate credit rating, are unchanged. The outlook is stable.

S&P said the ratings on Air Products and Chemicals Inc. reflect S&P’s assessment of the company’s “strong” business risk profile, based on its position in the global industrial gas market, and “intermediate” financial risk profile, which is supported by the consistency of Air Products’ operating performance, cash flow generation, and financial policy objectives.

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