New York, September 18, 2015 -- Moody's Investors Service has today affirmed Air Products and Chemicals Inc.'s (Air Products) senior unsecured A2 rating. Concurrently, Moody's has affirmed Air Products' short-term Prime-1 rating assigned to the company's commercial paper obligations. These affirmations come following Air Product's recent announcement to separate its Materials Technology (MT) business via a tax-free spin-off to its shareholders. For the last twelve months (LTM) ending June 2015, the MT business produced roughly $2.1 billion in sales -- nearly 20% of the company's total. The outlook on all ratings remains stable.

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