Moody's: Praxair's acquisition of NuCO2 will not impact ratings or outlook

New York, February 06, 2013 -- Moody's Investors Service affirmed the A2 senior unsecured ratings of Praxair, Inc. (Praxair) and its Prime-1 commercial paper rating following the announcement that it will acquire NuCO2 Inc. for $1.1 billion. Praxair expects to fund the transaction with combination of commercial paper and long term debt. While Praxair's financial metrics will weaken in 2013 due to the acquisition, Moody's believes that it can return metrics to levels that support the rating by the end of 2014, despite recent end market demand weakness. The proposed transaction is subject to regulatory approval but the company expects to close the transaction by the end of the first quarter of 2013. The rating outlook is stable.

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