S&P: Amphenol outlook positive

Standard & Poor's said it revised its outlook on Amphenol Corp. to positive from stable and affirmed the BB+ corporate credit and senior secured bank loan ratings.

S&P said the outlook revision reflects an improved financial profile, which has exhibited steadily improved debt protection metrics, combined with the credit-neutral use of secondary offerings to reduce the Amphenol holdings of the company's leading shareholder.

S&P noted the ratings on Amphenol reflect an improved, but still somewhat levered, balance sheet, offset in part by solid positions in two target markets - electronic connectors and broadband cable - and relatively consistent earnings and cash flow performance, even during periods of weak technology markets.

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