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S&P upgrades Hospira to AA-
Standard & Poor's said it raised all ratings on Hospira Inc., including the corporate credit rating to AA- from BBB-.
The ratings were removed from CreditWatch where they were placed with negative implications on Feb. 5, 2015.
The outlook is stable.
"Our upgrade on Hospira reflects the company's acquisition by Pfizer Inc. [AA/stable/A-1+]," S&P credit analyst Tulip Lim said in a news release.
Given the agency’s view that Hospira is a "highly strategic" (as criteria define the term) subsidiary of Pfizer, it raised the corporate credit rating on Hospira to one notch below new parent Pfizer. S&P expects that Pfizer will support Hospira in almost all circumstances, as evidenced by its offer to exchange Hospira's notes for Pfizer notes.
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