Fitch affirms IDEX

Fitch Ratings said it affirmed the issuer default rating and long-term ratings for IDEX Corp. at BBB+.

The outlook is stable. The ratings affect about $1.5 billion of total debt, including undrawn amounts under the revolving credit facility.

Fitch said the ratings and outlook reflect its expectations for solid operating performance over the intermediate term, driven by the company's diversified customer and product portfolio and refined operational focus. Moderate acquisition activity will augment mature organic growth, although Fitch anticipates deals will be modest in size. The agency expects profitability margins will remain near current levels resulting in consistent free cash flow and solid credit protection measures.

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