The ratings on Duluth, Ga.-based Roper Industries Inc., a diversified manufacturer of industrial products, reflect its leading position in profitable niche markets and its broad product, end-market, and geographic diversity, which helps stabilize the company's good cash flow generation. These factors are partly offset by the possibility of integration risks for current and future acquisitions. Roper, with annual sales of about $1.5 billion, provides engineered products and solutions for a diverse array of global niche markets. These include the water and wastewater products markets, radio frequency technology, research and medical product markets, and oil and gas. The company's reporting segments include Industrial Technology, Radio Frequency (RF) Technology, Scientific and Industrial Imaging, and Energy Systems and Controls. The Industrial Technology segment
