Standard&Poor's Ratings Services said today that the ratings and outlook on France-based Schneider Electric (A/Stable/A-1) remain unchanged, following the announcement by Schneider that it has decided to proceed with the disposal of its 98.1% stake in the electrical fittings manufacturer Legrand (A-/WatchNeg/A-2) to the KKR-Wendel Investissement consortium. The €3.6 billion deal, which had already been factored into the ratings on Schneider, is expected to substantially strengthen the group's financial profile in the short term, and will allow Schneider adequate headroom for financial investments while still remaining in its current rating category. ANALYST E-MAIL ADDRESSES xavier_buffon@standardandpoors.com nicolas_baudouin@standardandpoors.com CorporateFinanceEurope@standardandpoors.com
