MILAN (Standard&Poor's) Aug. 1, 2007--Standard&Poor's Ratings Services said today that its ratings and outlook on France-based Schneider Electric S.A. (BBB+/Stable/A-2)--a major world player in electrical distribution, industrial control, and automation--are unchanged following the group's announcement that it will buy 100% of U.S.-based Pelco Inc. for a total $1.5 billion. The acquisition will strengthen Schneider's business position in the U.S. in building automation solutions. It will also increase the group's net debt position, although we expect funds from operations to fully adjusted net debt to remain above 30%, the minimum level required at the current rating level. This acquisition further underscores Schneider's continued acquisitive drive, which includes the purchase of APC Inc. in January 2007 for $6.1
