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Baxter International Inc.'s $350 Million Senior Unsecured Notes Rated 'A+' Dec 11
Standard & Poors, Dec 2011
Abstract
Dec. 14, 2011, NEW YORK (Standard & Poor's)--Standard & Poor's Ratings Services said today that it assigned its 'A+' rating to Deerfield, Ill.-based Baxter International Inc.'s $350 million senior unsecured notes due January 2017, drawn off its WKSI shelf registration. Proceeds of the notes will be used for general corporate purposes; we note that Baxter has recently completed several acquisitions and increased its short term borrowings. The increase in debt is in line with our expectations that Baxter would make mid-size acquisitions, precluding its financial risk profile from reaching 'minimal' from 'modest', as we define the terms. The company just announced a definitive agreement to acquire Synovis Life Technologies Inc., a provider of biological and mechanical products for soft tissue...
Companies mentioned in this report are: Baxter International Inc.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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