S&P gives Abbott notes AA

Standard & Poor's said it assigned its AA rating to Abbott Laboratories' pending $3 billion notes borrowings, to be issued with rates, amounts and maturities determined by market demand.

These notes are issued as a drawdown from a 'well-know, seasoned issuer' filing with proceeds to repay commercial paper borrowings used to fund a portion of the $7.8 billion acquisitions of 2006, the agency said.

At the same time, S&P said it affirmed the AA corporate credit and A-1+ commercial paper ratings.

The outlook is stable.

According to the agency, the strong investment-grade rating on Abbott reflects the company's solid positions in a number of diverse health care segments, its strong financial profile and its continued robust discretionary cash flow.

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