S&P: Emerson Electric notes A

Standard & Poor's said it assigned an A rating to Emerson Electric Co.'s proposed senior unsecured notes due 2023.

The proceeds will be used for general corporate purposes and to repay commercial-paper borrowings.

The ratings reflect the company's strong business risk profile and its modest financial risk profile, S&P said.

These are supported by its portfolio of diverse businesses with good positions in competitive markets and a track record of good profitability and cash flow generation, the agency said.

Despite relatively subdued growth trends and intense competition in certain segments, S&P said it expects 2013 operating and financial performance and share buyback will continue to translate into credit measures that are commensurate with the A rating.

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