Fitch affirms Life Technology

Fitch Ratings said it has affirmed Life Technology Corp.'s ratings as follows: issuer default rating at BBB-; senior convertible notes at BBB-; and senior secured credit facilities at BBB-.

The outlook is stable.

According to the agency, Life Technologies' ratings reflect the company's high, though declining, debt and leverage levels, progress in integrating the Applied Biosystems, Inc. acquisition, and consistently strong operating performance.

Leverage at March 31 was 5.2 times or about 3.3x pro forma for the Applied acquisition, a decline from the end of 2008 when leverage was 6.9x, the agency said.

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