Moody's: LabCorp unchanged

Moody's Investors Service said it commented that Laboratory Corp. of America Holdings' announcement of the exercise of its option to redeem a portion of its convertible debt has no immediate impact on the company's Baa3 rating and stable outlook.

However, Moody's said it acknowledges the improvement in leverage and mitigation of the risk of a future put of the securities resulting from the transaction.

Additionally, Moody's said it believes that the company will maintain a good liquidity position even after available cash is reduced to fund the redemption.

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