Moody’s assigns Baa2 to Agilent bond

Moody's Investors Service said it assigned a Baa2 rating to the recently issued senior unsecured bond due 2026 of Agilent Technologies, Inc.

Proceeds will be used to refinance upcoming maturities of existing debt.

The outlook is stable.

Moody’s said the Baa2 rating reflects Agilent's good scale, with over $4.1 billion in annual revenue, its strong competitive positions and good growth outlook in its key markets. The rating is also supported by the company's good diversity, both by geography and end-market.

The Baa2 also reflects the agency’s expectation for Agilent to maintain conservative financial policies – with adjusted debt to EBITDA sustained below 2.5 times.

For the 12-month period ending July 31, Agilent had adjusted debt to EBITDA of 2.4 times.

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