Moody’s rates Medtronic notes A3

Moody's Investors Service said it assigned A3 ratings to the new senior unsecured notes to be issued by Medtronic Global Holdings SCA, a subsidiary of Medtronic plc.

There are no changes to the existing ratings of the rated subsidiaries of Medtronic, including the A3 senior unsecured rating of Medtronic Global, Medtronic, Inc., and Covidien International Finance SA.

Medtronic is expected to use the proceeds to repay a portion of its unrated, yen-denominated term loan and general corporate purposes. Moody’s said the offering is mostly leverage neutral.

The outlook for all entities remains unchanged at stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.