MKS Instruments Announces Upgrade from S&P Global Ratings
ANDOVER, Mass., Sept. 26, 2017 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ:MKSI), a global provider of technologies that enable advanced processes and improve productivity, announced today that S&P Global Ratings ("S&P") raised their corporate credit rating to 'BB+' from 'BB' on improved credit metrics. Simultaneously, S&P raised the issue-level rating on the company's senior secured term loan to investment grade 'BBB-' with a stable outlook. According to S&P, the rating action reflects the company's improved financial metrics over the past year and successful integration of the Newport acquisition.
"We are pleased that S&P has recognized both our strong operating performance and our substantial progress on delevering our balance sheet," said Seth H. Bagshaw, Senior Vice President and Chief Financial Officer. "This upgrade from S&P, as well as the recent upgrade from Moody's, reflects our continued progress in both the integration of Newport Corporation and strong execution in our strategy for profitable and sustainable growth."
About MKS Instrument
MKS Instruments, Inc. is a global provider of instruments, subsystems and process control solutions that measure, control, power, monitor, and analyze critical parameters of advanced manufacturing processes to improve process performance and productivity. Our products are derived from our core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, residual gas analysis, leak detection, control technology, ozone generation and delivery, RF & DC power, reactive gas generation, vacuum technology, lasers, photonics, sub-micron positioning, vibration isolation, and optics. Our primary served markets include semiconductor capital equipment, general industrial, life sciences, and research. Additional information can be found at www.mksinst.com.