S&P rates Amphenol notes BBB+

Standard & Poor's said it assigned its BBB+ issue-level rating to Amphenol Corp.'s $750 million three- and seven-year notes due 2017 and 2021.

The company will use proceeds for general corporate purposes, including repaying maturing existing debt.

The BBB+ corporate credit rating, A-2 short-term rating and stable outlook, as well as the ratings on Amphenol's existing debt, are all unaffected by the proposed transaction.

S&P said the ratings reflect the company's satisfactory business risk profile arising from a leading position in growing markets and consistent operating performance. Its participation in a very fragmented and competitive market somewhat offsets this position, the agency said.

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