PARIS (Standard&Poor's CreditWire) Aug. 3, 2001--Following the announcement by France-based Schneider Electric S.A., the leading world player in electrical distribution and industrial control and automation, of the successful completion of its offer for France-based Legrand, the leading manufacturer worldwide of low-voltage electrical fittings, Standard&Poor's said today that it maintains its ratings on both companies on CreditWatch with negative and positive implications, respectively. The ratings on both companies were placed on CreditWatch on Jan. 16, 2001, after the announcement of the exchange offer. The negative CreditWatch implications on Schneider Electric's ratings reflect Standard&Poor's expectation that the company's credit measures will be diluted by a merger with a company with weaker credit quality and, to a
