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S&P affirms Amphenol, gives notes BBB-; outlook up to positive
Standard & Poor's said it affirmed its BBB- corporate credit rating on Amphenol Corp., and revised the outlook to positive from stable.
At the same time, S&P said it assigned its BBB- rating to the company's new $600 million five-year senior unsecured note issue.
Amphenol will use proceeds of the note issue to repay amounts outstanding on the company's credit agreement, the agency added.
The rating on Amphenol reflects the company's solid business profile and relatively moderate financial policies and leverage, the agency noted.
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