On Aug. 4, 2008, Standard&Poor's Ratings Services placed its 'BBB+' long-term corporate credit rating on France-based Schneider Electric S.A.--a major world player in electrical distribution, industrial control, and automation--on CreditWatch with positive implications. At the same time, the 'A-2' short-term corporate credit rating was affirmed. The CreditWatch placement reflects the potential for an upgrade thanks to the group's strong operating performance and cash generation, combined with management's clear commitment to maintain a more conservative financial policy over the next few years. The cash generation would be coherent with a higher rating provided that dividend payments and acquisitions remained in line with the financial measures required at the higher rating level. The ratings reflect the group's solid business profile,
