U.S.-based Danaher Corp. will spin-off its industrial businesses to form an independent company named Fortive Corp. on July 2, 2016. We are affirming all of our ratings on Danaher Corp. Additionally, we are revising our industry risk assessment on Danaher to low risk from intermediate. The stable outlook reflects our view that the company's solid profitability and strong free cash flow will allow it to maintain appropriate credit measures while continuing to pursue acquisitions. On June 9, 2016, S&P Global Ratings affirmed all of its ratings on Danaher Corp., including our 'A/A-1' corporate credit rating. The outlook is stable. The affirmation reflects our view that, following the spin-off of its industrial businesses, Danaher will maintain its solid business position and
