S&P lowers Abbott

Standard & Poor's said it lowered its corporate credit and senior unsecured ratings on Abbott Laboratories to A+ from AA, and affirmed the A-1+ short-term rating.

The agency also removed the ratings from CreditWatch, where they were placed with negative implications on Oct. 19, 2011.

The ratings on Abbott reflect an assessment of the company's business risk profile as strong and the financial risk profile as modest.

"In our view, the absence of the high-margin, high-cash flow branded pharmaceuticals business will result in a somewhat less diverse operation, with substantially lower cash flow," said S&P credit analyst David Lugg in a news release.

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