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Airgas rated as stable by S&P

May 28, 2015 12:00 am • Last Updated: May 28, 2015 5:25 pm

By Lee Howard
Business Editor

l.howard@theday.com

Standard & Poor's Ratings Services said Thursday that the outlook on Airgas Inc. is stable despite a company plan to repurchase as much as $500 million in outstanding common stock.

Pennsylvania-based Airgas, which includes a store in Waterford, has strong underlying business fundamentals, S&P said.

"We do not believe the share repurchase authorization represents a shift from the company's financial policy," S&P said in a release. "We expect that share repurchases will be made largely with excess cash flow and availability under its existing credit facilities. ..."

S&P called Airgas "the leading North American distributor of industrial gases and related hardgoods."

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