Moody's rates Fortive notes Baa1

Moody's Investors Service said it assigned a Baa1 to Fortive Corp.'s $1.25 billion convertible senior unsecured note issuance.

All of the other ratings, including the Baa1 senior unsecured rating and P-2 commercial-paper rating are unaffected.

The proceeds will be used to help fund the acquisition of Advanced Sterilization Products announced in June 2018.

The outlook is stable.

The ratings reflect a highly diversified product portfolio highlighted by strong brands and market leading positions in various industrial end markets, Moody's said.

These competitive advantages and continuous innovation are driving organic growth that continues to outpace most industrial peers, the agency said.

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