Fitch gives Invitrogen, convertibles BBB-

Fitch Ratings said it assigned the following ratings to Invitrogen Corp.: issuer default rating BBB- and senior convertible notes BBB-.

The outlook is stable.

Fitch said it has also assigned a BBB- rating to Invitrogen's proposed senior secured credit facilities, which will be assumed in conjunction with the merger with Applied Biosystems, Inc.

According to the agency, Invitrogen's ratings are supported by the company's strong cash flows, leading market position, diversified customer base and low capital expenditure needs.

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