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Fitch affirms Agilent Technologies' long-term issuer default rating

Fitch Ratings affirmed Agilent Technologies Inc.'s long-term issuer default rating at BBB+.

The outlook on the rating is stable.

Fitch said the company is well-positioned operationally versus other healthcare companies in the life sciences and diagnostics sub-sectors and will continue to operate with a moderate leverage profile.

The rating agency said Agilent also shows operating margins and coverage metrics that are in line with or better than other healthcare companies in the life sciences and diagnostics sub-sectors.

Fitch believes the availability of $655 million under Agilent's $1 billion revolver due Sept. 15, 2019, should be adequate to fund smaller acquisition targets and working capital needs.