Fitch lowers Abbott

Fitch Ratings said it downgraded Abbott Laboratories' ratings as follows: issuer default rating to A+ from AA-, bank loan to A+ from AA-, senior unsecured debt to A+ from AA- and short-term debt to F1 from F1+.

The outlook has been revised to stable from negative, the agency said.

Fitch noted that the rating action results from sustained high leverage due to additional debt needed to complete the acquisitions of Guidant Corp.'s vascular intervention and endovascular solutions business and Kos Pharmaceuticals during 2006, which drove total leverage to 2.2 times at the end of 2006.

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