S&P assigns Baxter notes A+

Standard & Poor's said it assigned its A+ rating to Baxter International Inc.'s $350 million senior unsecured notes due 2014.

According to the agency, the proceeds will be used for general corporate purposes, which may include the repayment of indebtedness.

The company continues to maintain a strong net debt position, S&P said, adding that its corporate credit rating on Baxter International is A+; the outlook is positive.

The rating reflects Baxter's strength as a leading manufacturer of diversified and relatively noncyclical medical products, the agency noted.

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