S&P assigns Gilead debt A-

Standard & Poor's said it assigned its A- issue-level rating to Gilead Sciences Inc.'s proposed $4 billion senior unsecured debt offering.

At the same time, the agency affirmed its A- long-term corporate credit rating on Gilead.

The outlook is stable.

The rating on Gilead reflects what S&P views as the company's "satisfactory" business risk profile and "minimal" financial risk profile.

"We base our business profile assessment on the company's leading position in the HIV treatment category, its successful and productive research and development program, and strong profitability, offset in part by a relatively narrow therapeutic focus and significant product concentration," S&P credit analyst Arthur Wong said in a news release.

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