Moody’s downgrades Stryker notes to Baa1

Moody's Investors Service said it downgraded Stryker Corp.’s unsecured note ratings to Baa1 from A3.

The downgrade reflects Moody's view that Stryker's acquisition appetite will result in the company sustaining higher leverage and weaker credit metrics.

This concludes the review of the ratings, which was initiated on Feb. 1.

At the same time, Stryker's Prime-2 short rating is affirmed.

The outlook is stable.

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