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Moody's rates Baxter notes Baa1
Moody's Investors Service said it assigned a prospective Baa1 rating to the new senior shelf established by Baxter International and a Baa1 rating to the company's new $500 million senior unsecured notes due 2016.
The outlook remains stable.
Moody's also affirmed Baxter's Baa1 senior notes and debt and Prime-2 short-term ratings, as well as Baxter Finco BV's Baa1 guaranteed global senior notes.
Baxter's ratings reflect its standing as one of the largest rated medical products companies headquartered in the United States, with significant franchise strength in a relatively diverse group of product lines.
Many of Baxter's key products are not considered to be very technology-intensive and as a result, Moody's said the company's market positioning and cash flows are generally not subject to significant volatility.
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