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Fitch rates Agilent notes BBB
Fitch Ratings said it assigned a BBB rating to Agilent Technologies, Inc.'s proposed offering of up to $750 million senior notes. The company has a BBB issuer default rating, and its senior unsecured revolving credit facility and senior unsecured notes are rated BBB.
The outlook is positive.
The proceeds from the debt issuance will be used to repay a portion of the $1.5 billion of repurchase obligations of the company's wholly owned subsidiary, Agilent World Trade Inc., which are due in January 2011. Fitch anticipates the company will retire the remainder of the obligations with available cash and free cash flow.
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