France-based Schneider Electric obtained approval from the antitrust authorities to acquire U.K.-based engineering company Invensys. This approval was the last major condition of the acquisition, in our view, and we expect that the ensuing steps to finalize the deal will be fulfilled successfully in January 2014. We are consequently affirming at 'A-' and removing from CreditWatch negative our long-term rating on Schneider Electric and affirming our 'A-2' short-term rating. The negative outlook reflects the one-in-three possibility that we could downgrade Schneider over 2014-2015 if the company does not take a more conservative approach to acquisitions or if its operating performance weakens materially. MILAN (Standard&Poor's) Dec. 23, 2013--Standard&Poor's Ratings Services said today that it has affirmed at
