S&P rates Life Tech notes BBB

Standard & Poor's said it assigned Life Technologies Corp.'s $600 million of senior notes a BBB issue-level rating.

Proceeds from the offering will be used for general corporate purposes, including refinancing existing debt.

The rating reflects the company's well-established market position, diverse product portfolios, relatively noncyclical demand and the expectations that revenue growth will be stable in the mid-single-digit range with operating margins remaining at roughly 30% and that adjusted leverage will remain under 2.5 times, S&P said.

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