Moody's gives Stryker notes A3

Moody's Investors Service said it rated Stryker Corp.'s new $1 billion note offering A3.

At the same time, Moody's said it affirmed the company's existing A3 issuer rating.

The outlook remains stable.

Proceeds from this offering are expected to be used for general corporate purposes including future acquisitions, the agency said, noting that the A3 rating is largely supported by the company's good market positions in orthopedics as well as medical surgical products, solid cash flow generation despite ongoing weakness in hospital capital spending, and a conservative balance sheet even after this transaction.

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