Good global position in a narrow niche market. Sizeable installed base with good margins. Limited scope of operations. Concentration in the nuclear end market. High financial leverage. Our ratings on San Ramon, Calif.-based Mirion Technologies Inc. reflect the company's "highly leveraged" financial risk profile and "weak" business risk profile. We expect revenue to increase modestly in 2012 because of predictable replacement cycles of Mirion's installed base, coupled with increasing new plant construction in Asia and Eastern Europe. The company's credit metrics should improve in the next few quarters, primarily reflecting its debt repayment. Mirion provides radiation detection and monitoring products and services globally to nuclear, defense, medical, and industrial end markets. The company's weak business profile reflects its limited product
