On Nov. 26, 2008, Standard&Poor's Ratings Services raised its long-term corporate credit rating on France-based Schneider Electric S.A. to 'A-' from 'BBB+'. The outlook is stable. The ratings were removed from CreditWatch, where they had been placed with positive implications on Aug. 4, 2008. At the same time, the 'A-2' short-term credit rating was affirmed. Schneider Electric is a major world player in electrical distribution, industrial control, and automation. The upgrade reflects the group's strong operating performance and cash generation, combined with management's clear commitment to maintaining a more conservative financial policy over the next few years. The cash historically generated is coherent with a higher rating provided that dividend payments and acquisitions are sized according to the
