NEW YORK (Standard & Poor's) June 11, 2012--Standard & Poor's Ratings Services said it assigned its 'AA' rating and stable outlook to Lincoln Electric System (LES), Neb.'s series 2012 revenue and refunding bonds. At the same time, we affirmed the 'AA' rating on the system's outstanding revenue bonds and the 'A-1+' rating on the commercial paper program is affirmed. "The stable outlook reflects good financial management and the expectation that management will continue to react to rising costs with rate changes and the prudent use of rainy-day reserves," said Standard & Poor's credit analyst Peter Murphy. "If LES' financial margins or liquidity levels decline significantly, the rating could be lowered. We do not anticipate raising the rating during the next...
Companies mentioned in this report are:
- Lincoln Elec Sys
Action: New Rating
Action: Outlook: Stable
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