Standard&Poor's Ratings Services said today that, following the announcement of Schneider Electric S.A.'s (A/Stable/A-1) conditional offer for the Japanese company Digital Electronics (not rated) for about $200 million, the ratings and outlook on the France-based company remain unchanged. Schneider is a major world player in electrical distribution, industrial control, and automation. The acquisition of Digital Electronics is conditional upon Schneider obtaining about 67% of the capital, and its completion is not expected to take place before the end of 2002. The likely completion of Schneider's €3.6 billion disposal of its stake in Legrand (A-/WatchNeg/A-2) by year-end 2002 is expected to considerably strengthen Schneider's financial profile and allow adequate room for financial investments at the current rating level. The
