S&P drops Boston Scientific

Standard & Poor's said it lowered its ratings on Boston Scientific Corp., including the long-term corporate credit rating, which was lowered to BBB+ from A and the short-term rating to A-2 from A-1.

All ratings were removed from CreditWatch, where they were placed with negative implications Dec. 5, the agency noted.

The outlook is stable.

S&P said the ratings on Boston Scientific reflect the company's broadened portfolio of market-leading medical devices and strong cash flow.

These strengths are offset by sharply increased leverage resulting from the acquisition and by operational difficulties, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.