NEW YORK (GenomeWeb News) – Fitch Ratings has affirmed its ratings on Agilent Technologies' debt and has revised its outlook to 'positive' from 'stable.'
The Chicago-based rating agency affirmed Agilent's Issuer Default Rating of 'BBB,' as well as a 'BBB' rating on the firm's senior unsecured revolving credit facility and its senior unsecured notes.
Fitch said that it raised its outlook on Agilent due to "greater confidence in Agilent's operating and financial profile. The company's increasing percentage of organic sales from the faster growing and more profitable Life Sciences and Chemical Analysis segments should drive higher and less uneven operating performance over time," Fitch said in a statement.
The agency also cited Agilent's recently completed $1.5 billion acquisition of Varian as a catalyst for greater revenues in its Life Sciences and Chemical Analysis segments.