S&P: Agilent outlook positive

Standard & Poor's said it revised its outlook on Agilent Technologies Inc. to positive from negative and affirmed the BB corporate credit and senior unsecured debt ratings.

The outlook revision reflects a strengthening operating profile, as evidenced by significant improvements in profitability and a return to revenue growth in recent quarters, combined with a liquid balance sheet, the agency said.

S&P said the ratings on Agilent continue to reflect volatility in profitability resulting from a three-year downturn in overall operating performance and challenges in gearing the company's cost structure to the reduced revenue levels.

This partially is offset by a broad and diverse business profile, entrenched positions in test and measurement and other segments, and relatively strong balance sheet liquidity. Agilent serves the communications, electronics, and life science markets with test, measurement, and other instruments, and also makes semiconductor products.

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