Moody's gives Hospira notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to Hospira Inc.'s $700 million senior unsecured notes and new senior unsecured shelf.

Proceeds will be used to repay the company's existing 5.9% notes due June 2014 and 6.4% notes due May 2015.

Hospira's existing ratings, including its Ba1 corporate family rating and SGL-3 speculative grade liquidity rating, remain unchanged.

The outlook is negative.

"Hospira continues to face regulatory challenges, but this refinancing of near and intermediate term maturities will help it sustain adequate liquidity," Moody's senior credit officer Diana Lee said in a news release.

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