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Moody’s upgrades Amphenol to Baa1
Moody's Investors Service said it upgraded the unsecured credit ratings of Amphenol Corp. to Baa1 from Baa2.
The outlook is stable.
Moody’s said the Baa1 rating reflects Amphenol's steadily increasing scale (revenues were $5 billion in the LTM period ended June, up from $3.5 billion in 2010), strong credit metrics, above average operating performance and broad geographic and end market diversity. Though smaller in scale than its closest competitor, TE Connectivity (revenue of $13.3 billion in 2013), Amphenol has exhibited continuous top line growth and strong cash generating capabilities, the agency said.
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