S&P rates Air Products notes A

Standard & Poor's said it assigned its A issue rating to Air Products & Chemicals Inc.'s €300 million senior unsecured notes due 2025.

Proceeds will be used for general corporate purposes, including the repayment and refinancing of debt, which includes the outstanding €300 million 3.875% senior unsecured notes maturing in March 2015.

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 reflect its assessment of Air Products’ "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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