Moody's: Quest unaffected

Moody's Investors Service said the announcement that Quest Diagnostics Inc. would repurchase about 15.4 million shares for a negotiated price has no impact on the company's Baa2 senior rating.

The repurchased shares will represent half of the remaining holdings that are being liquidated by SB Holdings Capital Inc., a wholly owned subsidiary of GlaxoSmithKline plc, according to the agency.

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