S&P rates Baxter notes A+

Standard & Poor's said it assigned its A+ rating on Baxter International Inc.'s $500 million senior unsecured notes due in 2018.

The agency said that the company will use the proceeds for general corporate purposes, which may include the repayment of outstanding indebtedness and the refinancing of certain net investment hedges.

As such, the agency said that it does not expect a material, if any, increase in adjusted debt.

The rating on Baxter (A+/stable/A-1) reflects the company's strength as a leading manufacturer of diversified and relatively noncyclical medical products, S&P added.

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