On July 6, 2006, Standard&Poor's Ratings Services assigned its 'A+' rating to Danaher European Finance Company EHF's proposed offering of about €500 million of senior unsecured notes, which are unconditionally guaranteed by parent Danaher Corp. Proceeds from the note offering are expected to be used to retire an equivalent amount of outstanding commercial paper. Standard&Poor's also affirmed its ratings on Danaher Corp, including its 'A+' long-term and 'A-1' short-term corporate credit ratings. The outlook is stable. Danaher had about $870 million of debt at March 31, 2006. The ratings on Washington, D.C.-based Danaher reflect the firm's excellent business risk profile, modest financial risk profile, and ample liquidity, offset to some extent by its somewhat aggressive business
