Fitch affirms Abbott

Fitch Ratings said it has affirmed Abbott Laboratories' A+ issuer default rating and A+ bank loan and senior unsecured debt ratings.

In addition, the F1 short-term debt rating has been affirmed, the agency said.

The outlook is stable.

Fitch said it affirms Abbott's ratings as follows: issuer default rating at A+; bank loan at A+; senior unsecured debt at A+; and short-term debt at F1.

The rating action follows Abbott's announcement of its intention to acquire the pharmaceutical business of Solvay SA for €4.5 billion, the agency noted.

Fitch said it believes the acquisition is strategically sound and provides Abbott full ownership its existing partnership with Solvay's cholesterol-lowering franchise.

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