Moody’s rates Keysight notes at Baa2

Moody’s Investors Service said it assigned a Baa2 rating to Keysight Technologies, Inc.’s new 10 year senior unsecured notes.

“The Baa2 senior unsecured rating reflects Keysight’s leading market position in the electronic test instrument industry, comprised of leading positions across multiple subsegments of the industry, and robust liquidity given the consistently positive free cash flow generation ("FCF") due to healthy profit margins and low capital intensity,” the agency said in a press release.

Proceeds will be used to refinance the $500 million of 3.30% senior notes due Oct. 30.

Keysight’s other ratings and stable outlook remain unchanged.

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