Moody's ups Agilent

Moody's Investors Service said it raised the corporate family and senior unsecured ratings of Agilent Technologies, Inc. to Baa3 from Ba1.

The outlook is stable.

The upgrade was based on the company's good execution of its operating model, substantial completion of restructuring initiatives, solid free cash flow generation and continued strong credit metrics throughout the economic downturn, Moody's said.

Additionally, the agency said it expects improved operating margin and cash flow stability as Agilent's life sciences and chemical analysis businesses will now become more meaningful contributors to profitability as a result of management's decision to downsize the electronic measurement segment,.

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