Moody's: Emerson Electric unchanged

Moody's Investors Service said Emerson Electric Co.'s offer to purchase the shares of Chloride Group plc for £996 million will not affect Emerson's A2/prime-1 ratings.

However, after the acquisitions of Avocent and Chloride, Emerson will have utilized a considerable portion of the flexibility within its current rating, the agency said.

The ratings could be adversely impacted if subsequent acquisitions or other shareholder-friendly actions led to a material increase in leverage during the near term, Moody's said.

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