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DUFF & PHELPS UPGRADES DEBT SECURITIES OF IDEX CORPORATION

 CHICAGO, Oct. 22 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has raised the rating on IDEX Corporation's (NYSE: IEX) senior subordinated debt to "BB" (Double-B) from "BB-" (Double-B-Minus). $75 million dollars of securities are affected.
 Our upgrade reflects IDEX's successful assimilation of the acquisitions that it made in 1992, including the $68 million acquisition of Pulsafeeder, and continued strong operating results and cash flow. Although weakness has been evident in the company's European operations because of economic conditions, most of IDEX's domestic subsidiaries have generated stable cash flows and have demonstrated substantial resilience during the recent recession. With no acquisitions having been made in 1993, excess cash flow has been used to reduce debt. Over the first nine months of 1993, total debt has been reduced by $22.5 million and the debt-to-total capitalization ratio has improved to 60 percent from 70 percent at yearend 1992.
 Management intends to expand IDEX by focusing on acquisitions of fluid handling and industrial products companies serving specialized niche markets. Thus, D&P considers it likely that debt will increase from current levels. Management is expected to use moderation in their use of debt to fund growth; and in the past, IDEX has demonstrated a willingness and the ability to use equity to reduce acquisition-incurred debt. Management has been disciplined in its acquisition activities using stringent economic, financial and qualitative criteria in its evaluation of potential acquisition candidates. While Duff & Phelps expects IDEX to continue to make acquisitions, the rating assumes that the discipline evident in the past will continue.
 -0- 10/25/93
 /CONTACT: David W. Eisinger, CFA, of Duff & Phelps Credit Rating Co., 312-368-3145/
 (IEX)


CO: IDEX Corporation ST: IN: SU: RTG

MP -- NY067 -- 6318 10/25/93 12:18 EDT
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Publication:PR Newswire
Date:Oct 25, 1993
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