MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it cut
its outlook on diversified manufacturer Emerson Electric Co. to stable from
positive after the company's said its board of directors authorized the
repurchase of an additional 80 million shares.
The ratings agency also said it affirmed its 'A' corporate credit rating,
'A-1' short-term rating and other ratings on Emerson, reflecting its strong
business risk profile, above-average liquidity and cash flow protection
measures, moderate financial policies, ongoing share repurchases and
cash-financed acquisitions.
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