Moody's upgrades Amphenol

Moody's Investors Service said it upgraded Amphenol Corp.'s and its subsidiaries’ senior unsecured debt and issuer ratings to A3 from Baa1.

“The upgrade reflects Moody's expectation of continued conservative financial policies as well as the company's large scale ($11.5 billion in revenues in the LTM period ended March 31, 2022) and strong credit metrics (debt/EBITDA of approximately 1.9x and EBITA/interest of 19.2x for the same period) which compare favorably to many other global manufacturing peers rated in the A rating category,” the agency said in a press release.

The outlook is stable.

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