S&P ups Becton Dickinson

Standard & Poor's said it raised the long term corporate and senior unsecured debt rating on Becton Dickinson & Co. to AA- from A+. The commercial paper rating is raised to A-1+ from A-1.

The outlook is stable.

The upgrades reflect the company's leading positions and successful strategy of targeting unmet health care needs, according to the agency. The company's strong balance sheet and solid cash generation have produced consistently strong debt protection metrics and provide ample funds for tuck-in acquisitions, S&P added.

Ratings reflect the company's operating strength as a large multinational medical products manufacturer, the agency said.

These factors largely mitigate the risks of participating in a competitive industry with a fairly high demand for innovation, S&P noted.

At March 31, the issuer had a debt-to-EBITDA ratio of less than 1 times.

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