S&P affirms Abbott

Standard & Poor's said that it affirmed its AA corporate credit and all other ratings on Abbott Laboratories, following the company's announcement of its $2.8 billion purchase of Advanced Medical Optics Inc.

Abbott will fund the transaction with roughly $1.4 billion of debt and the assumption of roughly $1.4 billion in Advanced Medical debt, the agency added.

The outlook remains stable.

"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 robust discretionary cash flow," said S&P credit analyst Arthur Wong.

Abbott continues to maintain a broad product portfolio with solid positions in various health care segments, including pharmaceuticals, nutritionals, diagnostics, vascular devices, and with the acquisition of Advanced Medical, ophthalmics, S&P noted.

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