S&P rates Abbott notes AA

Standard & Poor's said it assigned an AA preliminary senior unsecured rating to Abbott Laboratories' well-known seasoned issuer shelf registration, along with an AA senior unsecured rating to three notes drawn down from this shelf, with five-, 10- and 30-year maturities. Amounts and rates will be determined by market conditions with the proceeds used primarily to repay outstanding commercial paper, which stood at $3.6 billion as of March 31.

The strong investment-grade rating reflects the company's solid positions in a number of diverse health care segments, its excellent financial profile and robust discretionary cash flow, S&P said.

Abbott continues to maintain a broad product portfolio with well-established positions in pharmaceuticals, nutritionals, diagnostics and vascular devices, the agency said.

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