Fitch affirms Kennametal

Fitch Ratings said it affirmed its ratings for Kennametal Inc. as follows: issuer default rating at BBB, senior unsecured bank facilities at BBB and senior unsecured debt at BBB.

The outlook is stable.

According to Fitch, the ratings reflect Kennametal's conservative financial policies, solid operating performance and leading market positions. Kennametal has continued to focus its long term efforts on broadening product and geographic diversification while maintaining strong credit metrics and financial flexibility.

Kennametal lowered leverage ratios in fiscal year 2007 through improved margins and reductions in debt, the agency noted.

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