S&P rates St. Jude notes A

Standard & Poor's said it assigned an A rating to St. Jude Medical Inc.'s $450 million senior unsecured notes, drawn from a 415 shelf registration.

The corporate credit rating is A.

The outlook is stable.

Proceeds will be used for debt repayment and general corporate purposes.

Ratings reflect the company's broadening portfolio of leading medical devices and its conservative policies, according to the agency.

These factors mitigate the company's vulnerability to technological changes in its somewhat narrow disease focus areas, the risks of competing with larger and diversified rivals and its indirect exposure to reimbursement risk and pricing pressures, the agency noted.

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