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S&P lowers Hospira to BBB-
Standard & Poor's said it lowered its corporate credit and senior unsecured ratings on Hospira Inc. to BBB- from BBB+.
The outlook was revised to stable from negative.
"The downgrade reflects our revised expectations including the extension of the now three-year long production problems at the company's Rocky Mount, N.C. plant and the replacement of many of its intravenous (IV) infusion pumps; these expenses could reach $450 million combined," S&P credit analyst David Lugg said in a news release.
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