S&P puts Baxter International on positive watch

Standard & Poor's said it placed its ratings for Baxter International Inc., including the A- long-term corporate credit rating and A-2 short-term rating, on CreditWatch with positive implications.

The positive CreditWatch listing is due to the company's solid second-quarter performance and strengthening balance sheet, the agency said.

S&P added that although Baxter's Colleague pumps contributed only $200 million of revenues in 2004, it has been concerned about the protracted suspension of sales and the impact on customer relationships, as well as ancillary product sales.

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