PARIS (Standard&Poor's) Oct. 8, 2003--Standard&Poor's Ratings Services said today that it had assigned its 'A' long-term senior unsecured debt rating to the proposed €500 million, five-year bonds to be issued by Schneider Electric S.A. (Schneider), the France-based ultimate holding company of the Schneider Electric group, a major player worldwide in electrical distribution, industrial controls, and automation. At closing, the issued amount is likely to be higher than the initial €500 million benchmark. The bond issue is not expected to include any financial covenants or rating triggers. Proceeds will be used to partially refinance an existing €1 billion bond, maturing in April 2004. "The rating on the bond is equalized with the long-term corporate credit rating on
