S&P rates Amphenol notes BBB+

S&P said it assigned the BBB+ rating to Amphenol Corp.'s proposed offering of senior unsecured notes.

The new notes are expected to have substantially the same terms and conditions as those of the existing unsecured senior notes, the agency said.

The proceeds will be used to repay debt, including its $375 million unsecured senior notes due September 2017 and for general corporate purposes, S&P said.

The proposed offering does not affect the company's BBB+ corporate credit and issue-level ratings, the agency noted.

The ratings reflect the company's position as one of the leading manufacturers in interconnect and sensors markets, S&P said, and the highly fragmented and competitive nature of the industry.

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