Moody's cuts Hospira debt to Ba1

Moody's Investors Service said it lowered Hospira, Inc.'s long-term debt rating to Ba1 from Baa3.

At the same time, Moody's assigned a Ba1 corporate family rating, a Ba1-PD probability of default rating and a speculative grade liquidity rating of SGL-3.

The outlook is negative.

"Uncertainty associated with ongoing regulatory matters and cash flow constraints are key factors supporting our downgrade of Hospira's debt rating," Moody's senior credit officer Diana Lee said in a news release.

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