Fitch affirms Ametek

Fitch Ratings said it affirmed Ametek, Inc.'s issuer default rating, senior unsecured bank facilities and senior unsecured debt at BBB.

The outlook is stable.

The agency said the ratings consider Ametek's product diversification, competitive positions in niche markets and solid financial performance. The company's profit margins and cash flow are supported by a focus on technology and new product development and Ametek's use of acquisitions to expand into attractive, higher-margin business.

Weak economic conditions in many of Ametek's markets are likely to pressure results in 2009, Fitch predicted, adding that credit concerns include the potential negative impact of a drawn-out recession or unexpectedly large acquisitions.

The debt-to-EBITDA ratio at Sept. 30 was 2.2 times.

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