The investment-grade ratings on Roper Industries Inc. reflect Standard&Poor's Ratings Services' view of the company's "satisfactory" business risk profile and "intermediate" financial risk profile. Additionally, our view of management and governance is "satisfactory." The company has made frequent acquisitions, which exposes it to credit risk. This acquisitiveness is highlighted by Roper's purchase of Sunquest Information Systems Inc. for approximately $1.4 billion in August 2012. Still, we expect Roper to manage its growth and acquisition strategies such that total debt to EBITDA remains within our expectation for the rating of about 2x to 2.5x and stays consistent with our view of an intermediate financial risk profile while maintaining "adequate" liquidity. Roper, with sales nearing $3 billion, provides engineered products
