Moody's rates LabCorp notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to the proposed senior unsecured note issuances of Laboratory Corp. of America Holdings.

The existing ratings remain unchanged.

The outlook is positive.

Proceeds of the offering are expected to be used to repay amounts outstanding under the company's revolving credit facility and for general corporate purposes.

Moody's said the Baa2 senior unsecured rating reflects its anticipation that the company will continue to see stable free cash flow generation and maintain modest leverage and strong interest coverage.

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