Moody's affirms Danaher

Moody's Investors Service said it has affirmed Danaher Corp.'s senior unsecured rating of A2 and its short-term rating of Prime-1.

At the same time, the agency said it revised the outlook to stable from negative.

The actions recognize Danaher's ongoing profitability and substantial levels of free cash flow generation as well as progress in reducing indebtedness from levels in the fourth quarter of 2007 following its $2.8 billion acquisition of Tektronix, the agency noted.

S&P added that the application of free cash flow in 2008 towards debt reduction has helped to better position Danaher's leverage and cash flow metrics within the A2 rating category and follows the issuance of $550 million of equity in November 2007.

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