Moody's upgrades Intermec

Moody's Investors Service said it upgraded Intermec, Inc.'s corporate family rating to Ba2 from B1, $100 million senior unsecured notes to Ba3 from B2 and shelf registration to prospective Ba3/B/B2 from prospective B2/Caa1/Caa3.

The outlook is stable.

Moody's said the rating action reflects the company's improved financial performance, increased cash-flow generation and strong liquidity following the divestiture of its Cincinnati Lamb and Landis Grinding System businesses during 2005.

The agency also noted Intermec's potential for commercialization of radiofrequency identification technologies and strong balance sheet, which benefits from manageable debt maturities and significant cash balances that should be sufficient to fund the recently announced $100 million share repurchase programs.

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