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S&P boosts Celgene, off watch
S&P said it raised the rating on Celgene Corp. to A+ from BBB+ and removed it from CreditWatch with positive implications.
The upgrade follows the closing of Bristol-Myers Squibb Co.’s acquisition of Celgene.
“We are raising our rating on Celgene to equal the rating on Bristol-Myers, reflecting our assessment of Celgene as a core subsidiary of Bristol-Myers,” said S&P in a press release.
The outlook is stable.
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