S&P ups Thermo Fisher

Standard & Poor's said it raised the corporate credit and senior unsecured debt ratings on Thermo Fisher Scientific Inc. to A- from BBB+.

The outlook remains positive.

The upgrades were based on the company's solid operating performance and cash flows as well as the continued maintenance of its modest financial risk profile, according to the agency.

"The ratings on Thermo Fisher reflect a strong business profile based on its industry-leading position, product and service diversity, and a modest financial profile," S&P analyst Arthur Wong said in a statement.

These factors should enable the company to weather expected near term volatility in funding for life sciences research and continue to bolster its business position with moderate sized acquisitions, the agency said.

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