S&P rates FLIR convertibles

Standard & Poor's said it assigned its B+ rating to FLIR Systems Inc.'s $210 million 3.0% senior convertible notes due 2023 and assigned its B+ corporate credit rating to the company.

The outlook is stable.

S&P said the ratings reflect FLIR Systems' below-average business risk profile due to the highly competitive market for imaging, where competitors have substantially greater financial, technical, and marketing resources, and the company's somewhat more aggressive financial posture, including both acquisitions and share repurchases. These factors are partially offset by a still-solid financial profile for the rating and a leading position in the thermal imaging niche.

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