S&P rates C.R. Bard notes A

S&P said it assigned an A rating to C.R. Bard Inc.'s proposed issuance of $500 million of senior unsecured notes.

The proceeds will be used for general corporate purposes, including repayment of commercial paper.

The outlook is negative.

The company also has an A corporate credit rating, reflecting its strong business risk and modest financial risk profile, S&P said.

The ratings also consider extensive product-level diversification, strong market position in its product markets and good longer term profitability levels, the agency said.

This is partially offset by the company's smaller scale than leading medical-device peers and weaker geographic diversity than peers, S&P said.

© 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.