S&P rates LabCorp notes BBB+

Standard & Poor's said it affirmed its BBB+ corporate credit rating on Laboratory Corp. of America Holdings. The outlook is stable.

The agency said it assigned its BBB+ rating, the same as the corporate credit rating, to its proposed senior unsecured notes due 2017 and senior unsecured notes due 2022.

S&P said the ratings reflect the company's satisfactory business risk profile, as a highly efficient U.S. provider of clinical laboratory services. The intermediate financial risk profile is supported by LabCorp's generation of robust discretionary cash flow.

Over the next few years, S&P said it expects low-single-digit annual organic revenue growth, supplemented by growth from acquisitions.

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