Strong business profile, supported by solid competitive positions and extensive geographic diversity; Efficient cost management; and Solid track record of free cash flow generation. Large dividend payout and acquisition programs; and Exposure to cyclicality in most of the company's end markets. The ratings on France-based Schneider Electric S.A. reflect the group's strong business profile, supported by sound competitive positions, extensive geographic diversity, and efficient cost management. The ratings also take into account Schneider's ability to generate solid free cash flow. Tempering these strengths are the cyclicality of most of the group's end markets, the group's acquisitive strategy, and its expansive dividend policy. Schneider is one of only a few global players in the electrical distribution, industrial controls, and automation industries,
