S&P upgrades PerkinElmer

Standard & Poor's said it raised its corporate credit and senior unsecured ratings on PerkinElmer Inc. to BBB from BBB- in light of its continued strong operating performance and extended record of financial prudence.

The outlook is stable.

"Difficult product transitions in the biopharmaceutical research laboratory supply and specialty lighting businesses appear to be complete, promising accelerating organic growth," S&P credit analyst David Lugg said in an agency rating.

PerkinElmer is complementing this improving internal performance with a series of small, focused acquisitions that can be readily funded either through internally generated cash or moderate borrowings, the agency added.

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