S&P upgrades Agilent

Standard & Poor's said it raised the corporate credit and issue-level ratings on Agilent Technologies Inc. to BBB+ from BBB-.

The outlook is stable.

These actions reflect better-than-expected performance in fiscal 2011, leading to a solid improvement of credit metrics, S&P said.

Adjusted debt leverage was 1.7x at fiscal year-end Oct. 31, 2011, which was an improvement from 2.3x a year ago, the agency said.

The ratings reflect the company's diversity and growth markets, offset by cyclical end markets and still-low concentration from recurring revenue, S&P said.

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