Fitch: Bristol-Myers unchanged

Fitch Ratings said it does not expect Bristol-Myers Squibb Co.'s announced spin-off of its remaining ownership in Mead Johnson Nutrition Co. to have a material impact on Bristol-Myers Squibb's credit ratings.

The proposed separation of the Mead Johnson business, of which the company publicly sold a 17% equity interest in February 2009, was announced, the agency said.

The tender offer for the remaining equity interest expires on Dec. 14 and includes an exchange ratio representing a 10% discount to the average share prices of the companies during a three-day period starting on Dec. 8, Fitch noted.

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