Eaton Corp. said yesterday that it planned to acquire two electrical products companies -- one in Europe and one in Asia -- for a total of $2.8 billion.

Cleveland-based Eaton has its electrical division's headquarters in Moon, where it has about 750 employees.

A company spokeswoman said it was too early to comment on whether the acquisitions might affect the Moon operations, which include corporate offices and a technology center.

The companies Eaton plans to buy are The Moeller Group of Bonn, Germany, for $2.2 billion; and Phoenixtec Power Co. Ltd., of Taipei, Taiwan, for $565 million. Combined 2007 sales of both companies are about $2 billion. When the acquisitions are finalized, Eaton's electrical division will have annual sales of more than $7.5 billion, said Eaton Chairman Alexander Cutler.

Eaton, which had $12.4 billion in sales last year, makes electrical controls and power distribution and automation systems. It bought Westinghouse Electric's electrical distribution and control business in 1994 and merged it with Eaton's Cutler-Hammer operations, which already were here.

After the announcement, Standard & Poor's Ratings Services said it placed the company's credit ratings of "A" and "A-1" on "credit watch with negative implications."

While S&P said it expected the acquisitions to complement Eaton's business and expand its global markets, the agency plans to review whether financing the deals through a combination cash, debt and equity will "delay progress in achieving metrics that we expect for an 'A' rated company," said John Sico, credit analyst with S&P.