Fitch rates Agilent notes BBB

Fitch Ratings said it rates Agilent Technologies, Inc.'s proposed $500 million of senior unsecured notes BBB.

The outlook is stable.

Net proceeds will be used for general corporate purposes, although Fitch said it anticipates the cash will be earmarked to fund the pending $1.5 billion cash acquisition of Varian Inc.

The ratings and outlook contemplate the acquisition being financed with a combination of debt and cash, given that cash and cash equivalents was about $1.6 billion as of July 31, pro forma for the combination.

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