S&P rates Stryker notes A+

Standard & Poor's said it assigned a preliminary senior unsecured rating of A+ to Stryker Corp.'s Rule 415 shelf registration filed Feb. 28, along with a rating of A+ to its $1 billion drawdown of senior unsecured notes.

The company will issue the notes in five- and 30-year tranches, S&P said, and will use proceeds for general corporate purposes.

The ratings reflect the company's satisfactory business risk profile attributable to solid market positions and broad product offerings in the relatively stable orthopedic implants and medical and surgical equipment industries, the agency said.

These strengths are offset by some concentration in orthopedic implants and related devices, the agency said.

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