Fitch gives Ametek notes BBB

Fitch Ratings said it expects to assign a rating of BBB to Ametek, Inc.'s $450 million of new senior unsecured private placement notes.

The agency said that the notes include: 1) $270 million of 6.2% 10-year notes to be issued Dec. 18, 2007, 2) $100 million of 6.3% 12-year notes to be issued Dec. 18, 2007 and 3) $80 million of 6.35% 10-year notes to be issued July 15, 2008.

Proceeds from the offering will be used to repay $225 million of 7.2% senior unsecured notes due in July 2008 and to fund acquisitions and other growth-related expenditures, the agency said.

Fitch said it currently rates Ametek as follows: issuer default rating (issuer default rating) BBB, senior unsecured bank facilities BBB and senior unsecured debt BBB.

The outlook is stable.

The ratings consider Ametek's competitive positions in niche markets, product and geographic diversification, solid operating performance and cash flow and effective acquisition strategy, the agency added.

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