S&P: Baxter unaffected

Standard & Poor's said that Baxter International Inc.'s (A-/stable/A-2) announcement Tuesday that it would withdraw its 6060 Multi-Therapy Infusion Pump from the marketplace over the next 12 months has no impact on the rating or outlook.

The company hopes to replace sales of this pump and related disposable products (about $15 million) with an alternative product, S&P said.

While timely correction of this problem remains important, Baxter's cash generation has exceeded expectations as a result of product diversity and strength, as well as working capital management improvements, S&P said.

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