Moody's: FLIR notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to FLIR Systems, Inc.'s $350 million of senior unsecured notes.

The outlook is stable.

The proceeds will be used for general corporate purposes.

While the company's liquidity profile will increase from the funding, Moody's said it anticipates that over time a portion of its resources could be deployed in additional acquisitions or utilization of its share repurchase authorization.

The rating recognizes FLIR's strong profitability, consistent free cash flow generation, modest leverage and good liquidity, the agency said.

The rating also considers the company's business profile, which is driven by a range of products based upon a fairly narrow technology field, Moody's said.

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