S&P lifts Amphenol from junk

Standard & Poor's said it raised its corporate credit and bank loan ratings on Amphenol Corp. to BBB- from BB+ to reflect sustained improvements in the company's financial profile, as demonstrated by reduced financial leverage, improved cash flow adequacy and expected moderate financial policies, along with a history of relatively consistent, strong operating performance.

The outlook is stable.

"The ratings on Amphenol Corp. reflect a solid business profile and relatively moderate financial policies and leverage, offset in part by limited overall business profile diversity," said S&P credit analyst Ben Bubeck.

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