Fitch rates Baxter notes A

Fitch Ratings said it affirmed Baxter International Inc.'s issuer default rating at A, along with short-term issuer default rating at F1, senior unsecured notes at A, bank credit facility at A and commercial paper at F1.

The agency also said it assigned an A rating to the company's proposed $600 million debt offering of senior unsecured notes.

The outlook is stable.

The company intends to use the proceeds for general corporate purposes, the agency said.

The ratings reflect the company's strong operating performance and credit metrics, Fitch said.

EBITDA margins have strengthened due to an improving product mix, the agency said, and leverage has remained relatively stable at 1.14x.

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