NEW YORK (Standard&Poor's) Nov. 26, 2001-- Standard&Poor's today affirmed its ratings on Ecolab Inc. (see list below). The outlook remains stable. The ratings affirmation follows the announcement that Ecolab will pay about $445 million in cash to complete the previously announced purchase of the remaining 50% of the Henkel-Ecolab joint venture from Henkel KgaA. Henkel had the option of receiving either cash or stock. The transaction is expected to close Nov. 30, 2001. The ratings on Ecolab reflect an above-average business profile. The company is the well-entrenched leader in the U.S. institutional warewashing business, a technology- and service-intensive sector. The firm benefits from a significant international presence. The purchase of Henkel's share of the Henkel-Ecolab joint
