S&P: PerkinElmer notes BBB

Standard & Poor's said it assigned a BBB rating to PerkinElmer Inc.'s $500 million senior notes due Nov. 15, 2021.

The proceeds will be used mostly to fund the acquisition of unrated Caliper Life Sciences.

The agency also said it also expects the company to use some of the funds to repay a part of its existing revolving credit facility.

The rating reflects the company's satisfactory business risk profile, highlighted by its strong positions in diverse and attractive business segments, S&P said.

The company also has a track record of sustained profitability and prudent debt financing, the agency said.

Its focus on highly competitive and technology-intensive markets in a consolidating industry partly offsets these positive credit factors, S&P said.

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