S&P assigns Becton notes A+

Standard & Poor's said it assigned its A+ rating to Becton Dickinson & Co.'s proposed $1.5 billion senior unsecured notes, which will be issued in five- and 10-year tranches.

The net proceeds from the sale of the securities will be used for general corporate purposes, including working capital, acquisitions, retirement of debt and other business opportunities, according to S&P.

S&P said its ratings on Becton Dickinson reflect its operating strength as a large, multinational, medical products manufacturer. The agency said it expects the company's strong business risk profile to continue to be supported by its dominant market positions, low-cost manufacturing capabilities, well-established distribution channels, and broad portfolio of relatively noncyclical, entrenched product lines that generate strong recurring cash flow.

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