Fitch assigns A to Abbott notes

Fitch Ratings said it assigned an A(EXP) rating with a negative rating watch to Abbott Laboratories' note offering.

Net proceeds are expected to be used to fund the company's acquisition of St. Jude Medical Inc. Abbott is also in the process of potentially acquiring Alere Inc.

Fitch said it will resolve the Rating Watch as more details regarding the transaction become available. It expects to downgrade Abbott to BBB/F2.

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